Zacks Investment Research downgraded shares of Air Transport Services Group, Inc (NASDAQ:ATSG) from a hold rating to a sell rating in a research report released 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 equities research analysts have also recently issued reports on the company. Cowen and Company set a $27.00 price target on Air Transport Services Group and gave the company a buy rating in a research note on Friday, October 13th. Stifel Nicolaus reiterated a hold rating and issued a $20.00 price target on shares of Air Transport Services Group in a research note on Tuesday, September 12th. Susquehanna Bancshares Inc initiated coverage on Air Transport Services Group in a research note on Thursday, August 17th. They issued a neutral rating and a $22.00 price target for the company. BidaskClub cut Air Transport Services Group from a buy rating to a hold rating in a research note on Friday, August 11th. Finally, Stephens reiterated an overweight rating and issued a $29.00 price target (up from $27.00) on shares of Air Transport Services Group in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $24.25.

Shares of Air Transport Services Group (NASDAQ:ATSG) opened at $23.65 on Wednesday. Air Transport Services Group has a 1-year low of $14.97 and a 1-year high of $26.75. The stock has a market capitalization of $1,383.43, a P/E ratio of 29.62 and a beta of 2.00. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 1.82.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings data on Monday, November 6th. The transportation company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Air Transport Services Group had a positive return on equity of 16.29% and a negative net margin of 7.77%. The company had revenue of $254.10 million during the quarter, compared to analysts’ expectations of $256.13 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The business’s revenue was up 31.5% on a year-over-year basis. equities research analysts expect that Air Transport Services Group will post 0.86 EPS for the current year.

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In other Air Transport Services Group news, insider W Joseph Payne sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $24.20, for a total transaction of $181,500.00. Following the completion of the transaction, the insider now directly owns 177,952 shares in the company, valued at $4,306,438.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard M. Baudouin sold 8,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $21.71, for a total transaction of $175,851.00. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tudor Investment Corp ET AL raised its position in Air Transport Services Group by 1.1% during the second quarter. Tudor Investment Corp ET AL now owns 18,208 shares of the transportation company’s stock valued at $397,000 after purchasing an additional 206 shares in the last quarter. Legal & General Group Plc raised its position in Air Transport Services Group by 4.3% during the second quarter. Legal & General Group Plc now owns 12,353 shares of the transportation company’s stock valued at $269,000 after purchasing an additional 510 shares in the last quarter. Penn Capital Management Co. Inc. raised its position in Air Transport Services Group by 1.1% during the second quarter. Penn Capital Management Co. Inc. now owns 82,225 shares of the transportation company’s stock valued at $1,791,000 after purchasing an additional 899 shares in the last quarter. Advisor Group Inc. raised its position in Air Transport Services Group by 21.4% during the second quarter. Advisor Group Inc. now owns 6,895 shares of the transportation company’s stock valued at $150,000 after purchasing an additional 1,217 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Air Transport Services Group by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 41,258 shares of the transportation company’s stock valued at $899,000 after purchasing an additional 2,860 shares in the last quarter. Institutional investors and hedge funds own 91.92% of the company’s stock.

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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