Air Transport Services Group (NASDAQ:ATSG) Reaches New 1-Year High – Here’s What Happened

Air Transport Services Group, Inc. (NASDAQ:ATSG)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $22.46 and last traded at $22.41, with a volume of 1617700 shares traded. The stock had previously closed at $22.44.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Air Transport Services Group in a research note on Saturday, March 29th. They set a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.60.

Air Transport Services Group Price Performance

The stock has a market capitalization of $1.48 billion, a P/E ratio of -559.86 and a beta of 0.88. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68. The company’s 50 day simple moving average is $22.31 and its two-hundred day simple moving average is $20.69.

Air Transport Services Group (NASDAQ:ATSG) last announced its earnings results on Monday, March 3rd. The transportation company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates 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%. As a group, equities analysts expect that Air Transport Services Group, Inc. will post 0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Independence Bank of Kentucky acquired a new stake in Air Transport Services Group in the fourth quarter worth about $33,000. Sterling Capital Management LLC raised its stake in shares of Air Transport Services Group by 797.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,642 shares of the transportation company’s stock worth $36,000 after buying an additional 1,459 shares during the last quarter. AlphaQuest LLC grew its holdings in Air Transport Services Group by 89.8% during the 4th quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company’s stock worth $58,000 after acquiring an additional 1,246 shares during the period. Covestor Ltd raised its position in shares of Air Transport Services Group by 96.8% during the 4th quarter. Covestor Ltd now owns 3,729 shares of the transportation company’s stock valued at $82,000 after acquiring an additional 1,834 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Air Transport Services Group in the 4th quarter worth $99,000. 91.81% of the stock is currently owned by institutional investors.

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.