Air T (NASDAQ:AIRT) Announces Earnings Results

Air T (NASDAQ:AIRT) posted its quarterly earnings results on Friday. The transportation company reported ($7.48) earnings per share for the quarter, FiscalAI reports. Air T had a net margin of 17.17% and a return on equity of 176.42%. The company had revenue of $146.94 million during the quarter.

Air T Stock Performance

NASDAQ:AIRT remained flat at $30.19 on Friday. 24,703 shares of the company’s stock traded hands, compared to its average volume of 31,327. Air T has a 52-week low of $18.35 and a 52-week high of $35.00. The firm’s 50-day simple moving average is $29.18 and its two-hundred day simple moving average is $25.54. The company has a current ratio of 1.43, a quick ratio of 0.61 and a debt-to-equity ratio of 3.55. The firm has a market cap of $80.91 million, a PE ratio of 1.28 and a beta of 0.25.

Institutional Trading of Air T

An institutional investor recently bought a new position in Air T stock. BlackRock Inc. purchased a new position in shares of Air T, Inc. (NASDAQ:AIRT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,583 shares of the transportation company’s stock, valued at approximately $121,000. BlackRock Inc. owned 0.17% of Air T at the end of the most recent quarter. 8.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on AIRT shares. Wall Street Zen raised Air T to a “sell” rating in a research report on Saturday, September 19th. Weiss Ratings lowered Air T from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, October 27th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Air T Company Profile

Air T, Inc. is a holding company that operates through businesses serving the aviation and air transportation industries. Founded in 1980, the company is based in Maiden, North Carolina, and has historically built its operations around air cargo transportation and aviation support services. Through its air cargo subsidiaries, including Mountain Air Cargo, Inc. and CSA Air, Inc., Air T provides regional overnight freight and feeder services, primarily under contractual arrangements with FedEx. These carriers operate aircraft and routes supporting the broader express-package delivery network.