Atlas Air Worldwide (NASDAQ:AAWW) Cut to Hold at Zacks Investment Research


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Atlas Air Worldwide (NASDAQ:AAWW) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Atlas Air Worldwide Holdings, Inc. is the parent company of Atlas Air and Polar Air Cargo, which together operate the world’s largest fleet of Boeing freighter aircraft. AAWW is principally involved in the airport-to-airport air transportation of heavy freight cargo through its two operating subsidiary airlines, Atlas Air, Inc. and Polar Air Cargo, IncAAWW, through its principal subsidiaries Atlas and Polar, offers scheduled air cargo service, cargo charters, military charters, and ACMI aircraft leasing in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis. “

Several other equities analysts have also recently issued reports on the company. Wolfe Research cut Atlas Air Worldwide from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 7th. Susquehanna Bancshares decreased their price objective on Atlas Air Worldwide from $87.00 to $80.00 and set a “positive” rating for the company in a research note on Wednesday, February 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $66.00.

Shares of AAWW traded down $1.93 during midday trading on Tuesday, hitting $58.07. The company had a trading volume of 33,136 shares, compared to its average volume of 525,475. The company’s 50-day simple moving average is $54.06 and its 200-day simple moving average is $57.47. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $1.60 billion, a P/E ratio of -6.31 and a beta of 1.34. Atlas Air Worldwide has a 1 year low of $14.97 and a 1 year high of $69.08.

Atlas Air Worldwide (NASDAQ:AAWW) last announced its quarterly earnings data on Wednesday, February 17th. The transportation company reported $4.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $1.33. Atlas Air Worldwide had a positive return on equity of 17.64% and a negative net margin of 7.73%. During the same period in the previous year, the firm posted $3.80 earnings per share. Equities analysts predict that Atlas Air Worldwide will post 12.02 earnings per share for the current fiscal year.

In related news, CFO Spencer Schwartz sold 5,000 shares of Atlas Air Worldwide stock in a transaction that occurred on Monday, November 30th. The stock was sold at an average price of $56.03, for a total value of $280,150.00. Following the sale, the chief financial officer now directly owns 37,636 shares in the company, valued at $2,108,745.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Michael Steen sold 39,108 shares of Atlas Air Worldwide stock in a transaction that occurred on Wednesday, January 27th. The shares were sold at an average price of $57.50, for a total value of $2,248,710.00. Following the completion of the sale, the chief marketing officer now owns 116,675 shares in the company, valued at $6,708,812.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,108 shares of company stock worth $3,009,000. Company insiders own 2.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of AAWW. International Assets Investment Management LLC purchased a new stake in Atlas Air Worldwide during the fourth quarter worth $25,000. Founders Capital Management purchased a new stake in Atlas Air Worldwide during the fourth quarter worth $27,000. Fieldpoint Private Securities LLC purchased a new stake in shares of Atlas Air Worldwide in the fourth quarter valued at $31,000. Veriti Management LLC purchased a new stake in shares of Atlas Air Worldwide in the fourth quarter valued at $54,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Atlas Air Worldwide by 31.5% in the third quarter. Nisa Investment Advisors LLC now owns 3,130 shares of the transportation company’s stock valued at $191,000 after acquiring an additional 750 shares in the last quarter. Institutional investors own 96.72% of the company’s stock.

About Atlas Air Worldwide

Atlas Air Worldwide Holdings, Inc, through its subsidiaries, provides outsourced aircraft and aviation operating services. It operates through three segments: ACMI, Charter, and Dry Leasing. The company offers outsourced cargo and passenger aircraft operating solutions, including contractual service arrangements, such as the provision of aircraft; and value-added services, including crew, maintenance, and insurance to aircraft and other customers.

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