Air Transport Services Group (NASDAQ:ATSG) Shares Gap Up on Earnings Beat

Air Transport Services Group, Inc. (NASDAQ:ATSG)’s share price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $13.25, but opened at $15.84. Air Transport Services Group shares last traded at $14.76, with a volume of 126,884 shares trading hands.

The transportation company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. Air Transport Services Group had a return on equity of 7.93% and a net margin of 2.91%. The company had revenue of $485.50 million for the quarter, compared to the consensus estimate of $479.77 million. During the same period last year, the business posted $0.36 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ATSG shares. StockNews.com raised Air Transport Services Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Susquehanna decreased their price target on shares of Air Transport Services Group from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Finally, Truist Financial reduced their target price on shares of Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, April 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Air Transport Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

Hedge Funds Weigh In On Air Transport Services Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of Air Transport Services Group in the third quarter valued at $326,000. Commonwealth Equity Services LLC grew its holdings in Air Transport Services Group by 35.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 32,373 shares of the transportation company’s stock worth $676,000 after acquiring an additional 8,506 shares during the last quarter. Strs Ohio increased its position in Air Transport Services Group by 10.5% in the 3rd quarter. Strs Ohio now owns 12,600 shares of the transportation company’s stock valued at $262,000 after acquiring an additional 1,200 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Air Transport Services Group by 49.5% in the third quarter. Principal Financial Group Inc. now owns 25,736 shares of the transportation company’s stock worth $537,000 after acquiring an additional 8,521 shares during the last quarter. Finally, Capula Management Ltd acquired a new position in shares of Air Transport Services Group during the third quarter worth approximately $1,044,000. Institutional investors and hedge funds own 91.81% of the company’s stock.

Air Transport Services Group Price Performance

The company has a debt-to-equity ratio of 1.25, a current ratio of 0.86 and a quick ratio of 0.74. The company’s 50 day moving average price is $12.86 and its 200 day moving average price is $15.01. The firm has a market capitalization of $966.15 million, a P/E ratio of 19.61 and a beta of 0.85.

About Air Transport Services Group

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.