Zacks Investment Research lowered shares of Air Transport Services Group (NASDAQ:ATSG) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “AIR TRANSPORT SERVICES GROUP, INC. is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Through five principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier Certificates, ATSG also provides aircraft leasing, aircraft maintenance services, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. ATSG subsidiaries include ABX Air, Inc., Air Transport International, LLC, Cargo Aircraft Management, Inc., Capital Cargo International Airlines, Inc., and LGSTX Services, Inc. “

Several other research analysts have also recently weighed in on ATSG. Stifel Nicolaus set a $27.00 price objective on shares of Air Transport Services Group and gave the company a buy rating in a report on Monday, October 15th. Imperial Capital boosted their price objective on shares of Air Transport Services Group from $22.00 to $25.00 and gave the company an in-line rating in a report on Friday, October 5th. ValuEngine raised shares of Air Transport Services Group from a sell rating to a hold rating in a report on Wednesday, October 3rd. BidaskClub raised shares of Air Transport Services Group from a sell rating to a hold rating in a report on Thursday, September 13th. Finally, Susquehanna Bancshares set a $23.00 price objective on shares of Air Transport Services Group and gave the company a hold rating in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Air Transport Services Group presently has a consensus rating of Hold and a consensus price target of $26.50.

Shares of Air Transport Services Group stock opened at $20.28 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.06 and a quick ratio of 0.91. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 22.53 and a beta of 1.81. Air Transport Services Group has a 52-week low of $19.17 and a 52-week high of $27.67.

Air Transport Services Group (NASDAQ:ATSG) last issued its earnings results on Monday, August 6th. The transportation company reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. The business had revenue of $203.61 million during the quarter, compared to analysts’ expectations of $208.24 million. Air Transport Services Group had a net margin of 10.44% and a return on equity of 20.53%. The business’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 earnings per share. As a group, research analysts predict that Air Transport Services Group will post 1.33 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in ATSG. Putnam Investments LLC bought a new position in shares of Air Transport Services Group in the second quarter worth approximately $2,844,000. Bank of America Corp DE boosted its position in shares of Air Transport Services Group by 12.2% in the second quarter. Bank of America Corp DE now owns 995,400 shares of the transportation company’s stock worth $22,485,000 after purchasing an additional 108,282 shares during the period. Rhumbline Advisers boosted its position in shares of Air Transport Services Group by 4.8% in the second quarter. Rhumbline Advisers now owns 59,369 shares of the transportation company’s stock worth $1,341,000 after purchasing an additional 2,710 shares during the period. Millennium Management LLC boosted its position in shares of Air Transport Services Group by 45.7% in the second quarter. Millennium Management LLC now owns 655,518 shares of the transportation company’s stock worth $14,808,000 after purchasing an additional 205,648 shares during the period. Finally, Emerald Advisers Inc. PA boosted its position in shares of Air Transport Services Group by 38.4% in the second quarter. Emerald Advisers Inc. PA now owns 737,670 shares of the transportation company’s stock worth $16,664,000 after purchasing an additional 204,647 shares during the period. Institutional investors own 88.26% of the company’s stock.

Air Transport Services Group Company Profile

Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.

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