Air Transport Services Group (NASDAQ:ATSG) Reaches New 12-Month High – Time to Buy?

Air Transport Services Group, Inc. (NASDAQ:ATSG) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $22.44 and last traded at $22.44, with a volume of 174163 shares. The stock had previously closed at $22.34.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Air Transport Services Group in a report on Saturday. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Air Transport Services Group currently has an average rating of “Hold” and an average target price of $20.60.

Air Transport Services Group Stock Performance

The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 0.81. The business’s 50-day moving average is $22.28 and its 200-day moving average is $20.43. The company has a market capitalization of $1.48 billion, a PE ratio of -560.61 and a beta of 0.79.

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

Hedge Funds Weigh In On Air Transport Services Group

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