Air Transport Services Group (NASDAQ:ATSG) Reaches New 52-Week High – Time to Buy?

Air Transport Services Group, Inc. (NASDAQ:ATSG) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $22.35 and last traded at $22.33, with a volume of 1168546 shares traded. The stock had previously closed at $22.30.

Wall Street Analyst Weigh In

Several research firms recently commented on ATSG. Loop Capital reissued a “hold” rating and issued a $22.50 price objective (up from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. StockNews.com began coverage on shares of Air Transport Services Group in a research note on Tuesday. They set a “hold” rating for the company. Finally, Truist Financial raised their target price on shares of Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Air Transport Services Group presently has a consensus rating of “Hold” and an average target price of $20.60.

Air Transport Services Group Stock Up 0.1 %

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 has a market capitalization of $1.47 billion, a PE ratio of -558.11 and a beta of 0.84. The business’s 50 day simple moving average is $22.12 and its 200 day simple moving average is $19.39.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Air Transport Services Group by 247.7% in the third quarter. Barclays PLC now owns 72,934 shares of the transportation company’s stock worth $1,180,000 after acquiring an additional 51,955 shares during the last quarter. Empowered Funds LLC increased its position in Air Transport Services Group by 11.1% in the 3rd quarter. Empowered Funds LLC now owns 290,423 shares of the transportation company’s stock valued at $4,702,000 after acquiring an additional 29,104 shares during the period. FMR LLC raised its stake in shares of Air Transport Services Group by 74.9% during the third quarter. FMR LLC now owns 213,730 shares of the transportation company’s stock worth $3,460,000 after purchasing an additional 91,521 shares during the last quarter. Systematic Financial Management LP acquired a new stake in shares of Air Transport Services Group in the 3rd quarter worth $396,000. Finally, Phocas Financial Corp. lifted its position in Air Transport Services Group by 49.4% in the third quarter. Phocas Financial Corp. now owns 223,036 shares of the transportation company’s stock valued at $3,611,000 after purchasing an additional 73,752 shares during the period. 91.81% of the stock is currently owned by institutional investors and hedge funds.

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.