Atlas Air Worldwide Holdings (AAWW) Stock Rating Reaffirmed by Cowen and Company
Atlas Air Worldwide Holdings (NASDAQ:AAWW)‘s stock had its “outperform” rating reissued by equities researchers at Cowen and Company in a note issued to investors on Thursday. They presently have a $70.00 target price on the transportation company’s stock, up from their previous target price of $60.00. Cowen and Company’s price objective would indicate a potential upside of 9.38% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. BidaskClub raised shares of Atlas Air Worldwide Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Atlas Air Worldwide Holdings in a report on Friday, June 2nd. Zacks Investment Research cut shares of Atlas Air Worldwide Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Imperial Capital upped their price target on shares of Atlas Air Worldwide Holdings from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, May 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Atlas Air Worldwide Holdings presently has a consensus rating of “Buy” and an average target price of $68.40.
Shares of Atlas Air Worldwide Holdings (NASDAQ:AAWW) traded down 2.51% during midday trading on Thursday, hitting $64.00. The company’s stock had a trading volume of 447,791 shares. The stock’s 50 day moving average is $56.35 and its 200-day moving average is $54.03. The firm has a market cap of $1.62 billion, a P/E ratio of 27.35 and a beta of 1.45. Atlas Air Worldwide Holdings has a 52-week low of $34.22 and a 52-week high of $67.75.
Atlas Air Worldwide Holdings (NASDAQ:AAWW) last released its quarterly earnings results on Wednesday, August 2nd. The transportation company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.24. The firm had revenue of $517.37 million for the quarter, compared to analysts’ expectations of $500.44 million. Atlas Air Worldwide Holdings had a net margin of 2.98% and a return on equity of 8.11%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Equities analysts predict that Atlas Air Worldwide Holdings will post $4.76 EPS for the current fiscal year.
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In related news, CEO William J. Flynn sold 5,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $58.59, for a total value of $292,950.00. Following the transaction, the chief executive officer now owns 196,958 shares of the company’s stock, valued at $11,539,769.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 25,000 shares of company stock worth $1,404,200. 2.50% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Atlas Air Worldwide Holdings during the fourth quarter worth approximately $1,268,000. Louisiana State Employees Retirement System boosted its position in Atlas Air Worldwide Holdings by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the transportation company’s stock worth $566,000 after buying an additional 100 shares in the last quarter. Sanders Morris Harris Inc. purchased a new position in Atlas Air Worldwide Holdings during the first quarter worth approximately $2,619,000. State of Alaska Department of Revenue boosted its position in Atlas Air Worldwide Holdings by 3.0% in the first quarter. State of Alaska Department of Revenue now owns 2,770 shares of the transportation company’s stock worth $153,000 after buying an additional 80 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in Atlas Air Worldwide Holdings by 1.4% in the first quarter. State of New Jersey Common Pension Fund D now owns 750,000 shares of the transportation company’s stock worth $41,588,000 after buying an additional 10,000 shares in the last quarter. 96.32% of the stock is currently owned by institutional investors and hedge funds.
About Atlas Air Worldwide Holdings
Atlas Air Worldwide Holdings, Inc is a holding company. The Company provides outsourced aircraft and aviation operating services throughout the world, serving Africa, Asia, Australia, Europe, the Middle East, North America and South America through contractual service arrangements, including those through which it provides aircraft to customers and value-added services, including crew, maintenance and insurance (ACMI), as well as those through which it provides crew, maintenance and insurance, but not the aircraft (CMI); cargo and passenger charter services (Charter), and dry leasing aircraft and engines (Dry Leasing).
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