Air Transport Services Group (NASDAQ:ATSG) Sees Strong Trading Volume – Here’s What Happened

Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) saw an uptick in trading volume on Monday . 2,132,239 shares changed hands during trading, an increase of 168% from the previous session’s volume of 794,399 shares.The stock last traded at $22.23 and had previously closed at $22.40.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Air Transport Services Group in a report on Sunday. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Stock Up 0.0 %

The firm has a 50 day simple moving average of $22.33 and a two-hundred day simple moving average of $20.92. The stock has a market capitalization of $1.48 billion, a P/E ratio of -562.11 and a beta of 0.89. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.06.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings results on Monday, March 3rd. The transportation company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $521.36 million. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. On average, equities research analysts expect that Air Transport Services Group, Inc. will post 0.83 earnings per share for the current year.

Institutional Investors Weigh In On Air Transport Services Group

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in Air Transport Services Group by 0.8% in the 4th quarter. Rhumbline Advisers now owns 83,623 shares of the transportation company’s stock valued at $1,838,000 after purchasing an additional 686 shares during the last quarter. Cetera Trust Company N.A increased its holdings in shares of Air Transport Services Group by 6.6% during the fourth quarter. Cetera Trust Company N.A now owns 11,635 shares of the transportation company’s stock worth $256,000 after buying an additional 725 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Air Transport Services Group by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,127 shares of the transportation company’s stock worth $640,000 after buying an additional 982 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of Air Transport Services Group by 89.8% in the 4th quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company’s stock valued at $58,000 after acquiring an additional 1,246 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of Air Transport Services Group by 797.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,642 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 1,459 shares in the last quarter. 91.81% of the stock is currently owned by institutional investors and hedge funds.

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.