Air Transport Services Group (NASDAQ:ATSG) Downgraded by Susquehanna to Neutral

Susquehanna downgraded shares of Air Transport Services Group (NASDAQ:ATSG) from a positive rating to a neutral rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has $15.00 target price on the transportation company’s stock, down from their previous target price of $26.00.

Several other research firms have also issued reports on ATSG. Oppenheimer started coverage on Air Transport Services Group in a research note on Wednesday, September 20th. They set an outperform rating and a $27.00 target price on the stock. TD Cowen increased their price target on Air Transport Services Group from $26.00 to $28.00 and gave the company an outperform rating in a research report on Monday, August 7th. Loop Capital increased their price target on Air Transport Services Group from $27.00 to $30.00 in a research report on Thursday, September 28th. StockNews.com assumed coverage on Air Transport Services Group in a research report on Thursday, October 5th. They issued a hold rating on the stock. Finally, Truist Financial increased their price target on Air Transport Services Group from $17.00 to $21.00 and gave the company a hold rating in a research report on Monday, August 7th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $23.83.

Air Transport Services Group Price Performance

ATSG opened at $14.32 on Wednesday. The stock’s 50-day moving average price is $20.42 and its 200 day moving average price is $19.68. Air Transport Services Group has a 12-month low of $14.03 and a 12-month high of $29.47. The company has a current ratio of 0.89, a quick ratio of 0.75 and a debt-to-equity ratio of 1.05. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 9.68 and a beta of 0.80.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ATSG. Bank of New York Mellon Corp increased its holdings in shares of Air Transport Services Group by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 331,441 shares of the transportation company’s stock valued at $11,087,000 after acquiring an additional 9,681 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Air Transport Services Group by 714.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,706 shares of the transportation company’s stock valued at $391,000 after acquiring an additional 10,268 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Air Transport Services Group by 41.3% in the 1st quarter. Bank of Montreal Can now owns 161,108 shares of the transportation company’s stock valued at $5,497,000 after acquiring an additional 47,129 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Air Transport Services Group by 56.5% in the 1st quarter. MetLife Investment Management LLC now owns 32,199 shares of the transportation company’s stock valued at $1,077,000 after acquiring an additional 11,631 shares during the last quarter. Finally, APG Asset Management N.V. purchased a new position in Air Transport Services Group during the 1st quarter worth approximately $385,000. Hedge funds and other institutional investors own 91.81% of the company’s stock.

Air Transport Services Group Company Profile

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing, and air cargo transportation and related services in the United States and internationally. It operates in two segments: Cargo Aircraft Management Inc (CAM), and ACMI Services. The company offers aircraft, flight crews, aircraft hull and liability insurance, and aviation fuel services; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services, and aircraft line maintenance.