Truist Financial Forecasts Strong Price Appreciation for Air Transport Services Group (NASDAQ:ATSG) Stock

Air Transport Services Group (NASDAQ:ATSG) had its price target lifted by Truist Financial from $15.00 to $22.50 in a research note released on Tuesday,Benzinga reports. They currently have a hold rating on the transportation company’s stock.

Several other equities research analysts have also issued reports on ATSG. Loop Capital reissued a “hold” rating and set a $22.50 price objective (up previously from $22.00) on shares of Air Transport Services Group in a research note on Tuesday. Stifel Nicolaus lifted their price target on Air Transport Services Group from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Price Performance

Shares of NASDAQ ATSG opened at $22.04 on Tuesday. The stock has a market cap of $1.45 billion, a PE ratio of 88.16 and a beta of 0.81. Air Transport Services Group has a fifty-two week low of $11.62 and a fifty-two week high of $22.27. The stock has a fifty day moving average of $16.34 and a 200-day moving average of $14.95. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.62 and a current ratio of 0.74.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings data on Thursday, August 8th. The transportation company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. The company had revenue of $488.41 million during the quarter, compared to analyst estimates of $513.67 million. Air Transport Services Group had a return on equity of 4.24% and a net margin of 0.90%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. Equities research analysts anticipate that Air Transport Services Group will post 0.84 earnings per share for the current year.

Institutional Investors Weigh In On Air Transport Services Group

A number of hedge funds and other institutional investors have recently modified their holdings of ATSG. Janney Montgomery Scott LLC lifted its stake in shares of Air Transport Services Group by 70.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 42,763 shares of the transportation company’s stock valued at $588,000 after acquiring an additional 17,609 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Air Transport Services Group in the 1st quarter valued at about $243,000. Central Pacific Bank Trust Division bought a new stake in shares of Air Transport Services Group in the 1st quarter valued at about $227,000. GSA Capital Partners LLP bought a new stake in shares of Air Transport Services Group in the 1st quarter valued at about $1,041,000. Finally, Empowered Funds LLC increased its holdings in Air Transport Services Group by 8.2% during the 1st quarter. Empowered Funds LLC now owns 242,599 shares of the transportation company’s stock valued at $3,338,000 after purchasing an additional 18,342 shares during the period. Institutional investors own 91.81% of the company’s stock.

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.