Air Transport Services Group, Inc (NASDAQ:ATSG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, July 4th. The firm presently has a $25.00 target price on the transportation company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 0.36% from the stock’s current price.

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. “

ATSG has been the subject of a number of other research reports. Imperial Capital raised their price target on shares of Air Transport Services Group from $18.00 to $23.00 and gave the company an “in-line” rating in a report on Friday, May 5th. Cowen and Company raised their price target on shares of Air Transport Services Group from $19.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Stephens raised shares of Air Transport Services Group from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a report on Saturday, March 11th. BidaskClub lowered shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Finally, Sidoti reissued a “buy” rating and issued a $26.00 price target (up previously from $23.00) on shares of Air Transport Services Group in a report on Sunday, May 14th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $23.50.

Shares of Air Transport Services Group (ATSG) traded up 0.81% during trading on Tuesday, reaching $24.91. The company’s stock had a trading volume of 281,782 shares. Air Transport Services Group has a 12 month low of $12.94 and a 12 month high of $25.28. The company has a market capitalization of $1.48 billion, a P/E ratio of 67.69 and a beta of 2.01. The company’s 50-day moving average is $22.89 and its 200-day moving average is $19.51.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings results on Wednesday, May 3rd. The transportation company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. The business had revenue of $237.92 million during the quarter, compared to analyst estimates of $214.09 million. Air Transport Services Group had a net margin of 3.05% and a return on equity of 11.82%. On average, analysts forecast that Air Transport Services Group will post $0.96 EPS for the current fiscal year.

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In other news, insider Brady Thomas Templeton sold 3,500 shares of Air Transport Services Group stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $23.72, for a total transaction of $83,020.00. Following the transaction, the insider now directly owns 90,729 shares of the company’s stock, valued at $2,152,091.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider W Joseph Payne sold 5,000 shares of Air Transport Services Group stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $24.52, for a total transaction of $122,600.00. Following the transaction, the insider now directly owns 185,452 shares in the company, valued at $4,547,283.04. The disclosure for this sale can be found here. Insiders have sold a total of 4,473,192 shares of company stock valued at $100,349,450 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its position in shares of Air Transport Services Group by 619.7% in the second quarter. BNP Paribas Arbitrage SA now owns 39,675 shares of the transportation company’s stock worth $864,000 after buying an additional 34,162 shares in the last quarter. Comerica Bank purchased a new position in shares of Air Transport Services Group during the second quarter worth $1,127,000. Legal & General Group Plc boosted its position in shares of Air Transport Services Group by 4.3% in the second quarter. Legal & General Group Plc now owns 12,353 shares of the transportation company’s stock worth $269,000 after buying an additional 510 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Air Transport Services Group by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 578,941 shares of the transportation company’s stock worth $12,609,000 after buying an additional 27,173 shares in the last quarter. Finally, First Mercantile Trust Co. purchased a new position in shares of Air Transport Services Group during the second quarter worth $169,000. 86.27% of the stock is currently owned by institutional investors.

Air Transport Services Group Company Profile

Air Transport Services Group, Inc (ATSG) is a holding company. The Company provides airline operations, aircraft leases, aircraft maintenance and other support services primarily to the cargo transportation and package delivery industries. It offers aircraft, crew, maintenance and insurance (ACMI) for specified cargo operations.

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Analyst Recommendations for Air Transport Services Group (NASDAQ:ATSG)

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