Air Transport Services Group (NASDAQ:ATSG) Reaches New 52-Week Low on Analyst Downgrade

Air Transport Services Group, Inc. (NASDAQ:ATSGGet Rating) shares reached a new 52-week low on Tuesday after Susquehanna lowered their price target on the stock from $25.00 to $18.00. The company traded as low as $14.39 and last traded at $14.57, with a volume of 392633 shares. The stock had previously closed at $14.85.

Other equities research analysts also recently issued reports about the stock. TheStreet downgraded shares of Air Transport Services Group from a “b-” rating to a “c+” rating in a research note on Friday, March 24th. StockNews.com initiated coverage on shares of Air Transport Services Group in a report on Thursday, March 16th. They set a “hold” rating for the company. Truist Financial decreased their price objective on shares of Air Transport Services Group from $22.00 to $17.00 in a report on Monday. Finally, Stifel Nicolaus decreased their price objective on shares of Air Transport Services Group from $27.00 to $26.00 in a report on Monday.

Insider Activity

In related news, COO Edward Joseph Koharik III purchased 2,000 shares of Air Transport Services Group stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $20.39 per share, for a total transaction of $40,780.00. Following the completion of the acquisition, the chief operating officer now directly owns 35,713 shares of the company’s stock, valued at $728,188.07. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other Air Transport Services Group news, Director Jeffrey J. Vorholt acquired 1,250 shares of the business’s stock in a transaction dated Friday, March 10th. The shares were acquired at an average price of $20.80 per share, with a total value of $26,000.00. Following the completion of the transaction, the director now directly owns 33,700 shares in the company, valued at approximately $700,960. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Edward Joseph Koharik III acquired 2,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $20.39 per share, for a total transaction of $40,780.00. Following the transaction, the chief operating officer now owns 35,713 shares of the company’s stock, valued at $728,188.07. The disclosure for this purchase can be found here. Insiders purchased 10,675 shares of company stock worth $210,922 over the last quarter. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Air Transport Services Group

Institutional investors have recently made changes to their positions in the business. CWM LLC lifted its position in shares of Air Transport Services Group by 54.4% in the third quarter. CWM LLC now owns 1,081 shares of the transportation company’s stock worth $26,000 after purchasing an additional 381 shares in the last quarter. Harbour Investments Inc. raised its position in Air Transport Services Group by 374.9% during the fourth quarter. Harbour Investments Inc. now owns 1,249 shares of the transportation company’s stock worth $32,000 after acquiring an additional 986 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Air Transport Services Group by 141.2% during the first quarter. Tower Research Capital LLC TRC now owns 1,674 shares of the transportation company’s stock worth $35,000 after acquiring an additional 980 shares in the last quarter. Lazard Asset Management LLC raised its position in Air Transport Services Group by 1,147.3% during the fourth quarter. Lazard Asset Management LLC now owns 1,372 shares of the transportation company’s stock worth $35,000 after acquiring an additional 1,262 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in Air Transport Services Group during the third quarter worth $38,000. Institutional investors own 95.77% of the company’s stock.

Air Transport Services Group Price Performance

The company has a debt-to-equity ratio of 1.04, a current ratio of 1.36 and a quick ratio of 1.17. The company’s 50-day simple moving average is $20.26 and its 200-day simple moving average is $24.57. The stock has a market capitalization of $1.12 billion, a P/E ratio of 8.05 and a beta of 0.76.

Air Transport Services Group (NASDAQ:ATSGGet Rating) last posted its quarterly earnings results on Friday, May 5th. The transportation company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.11). Air Transport Services Group had a return on equity of 12.63% and a net margin of 8.20%. The firm had revenue of $501.10 million for the quarter, compared to the consensus estimate of $510.80 million. During the same period last year, the company posted $0.56 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts expect that Air Transport Services Group, Inc. will post 1.63 EPS for the current fiscal year.

About Air Transport Services Group

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Air Transport Services Group, Inc engages in the provision of airline operations, aircraft leases, aircraft maintenance, and other support services primarily to the cargo transportation and package delivery industries. It operates through the CAM and ACMI Services segments. The CAM segment consists of the company’s aircraft leasing operations.

Further Reading

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