Air Transport Services Group (NASDAQ:ATSG) Shares Gap Up After Strong Earnings

Air Transport Services Group, Inc. (NASDAQ:ATSG)’s share price gapped up before the market opened on Tuesday following a stronger than expected earnings report. 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 changing hands.

The transportation company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $485.50 million during the quarter, compared to analysts’ expectations of $479.77 million. Air Transport Services Group had a return on equity of 7.93% and a net margin of 2.91%. The company’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS.

Analyst Ratings Changes

Several research firms have commented on ATSG. Susquehanna boosted their target price on Air Transport Services Group from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com upgraded shares of Air Transport Services Group from a “sell” rating to a “hold” rating in a report on Tuesday. 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 report on Friday, April 19th. Finally, TD Cowen boosted their price target on shares of Air Transport Services Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Air Transport Services Group currently has a consensus rating of “Moderate Buy” and an average target price of $21.83.

Hedge Funds Weigh In On Air Transport Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Air Transport Services Group during the fourth quarter worth $26,000. CWM LLC increased its stake in shares of Air Transport Services Group by 53.9% during the 4th quarter. CWM LLC now owns 2,191 shares of the transportation company’s stock worth $39,000 after purchasing an additional 767 shares during the last quarter. Cetera Trust Company N.A bought a new stake in shares of Air Transport Services Group in the 4th quarter valued at about $90,000. Entropy Technologies LP acquired a new stake in Air Transport Services Group in the 1st quarter valued at about $157,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Air Transport Services Group during the third quarter worth about $196,000. 91.81% of the stock is owned by institutional investors.

Air Transport Services Group Price Performance

The business has a fifty day moving average of $12.91 and a 200 day moving average of $15.01. The firm has a market cap of $958.27 million, a P/E ratio of 19.45 and a beta of 0.85. The company has a quick ratio of 0.74, a current ratio of 0.86 and a debt-to-equity ratio of 1.25.

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.