Zacks Investment Research Downgrades Atlas Air Worldwide Holdings (AAWW) to Hold

Atlas Air Worldwide Holdings (NASDAQ:AAWW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Atlas Air Worldwide Holdings, Inc. is the parent company of Atlas Air and Polar Air Cargo, which together operate the world’s largest fleet of Boeing freighter aircraft. AAWW is principally involved in the airport-to-airport air transportation of heavy freight cargo through its two operating subsidiary airlines, Atlas Air, Inc. and Polar Air Cargo, IncAAWW, through its principal subsidiaries Atlas and Polar, offers scheduled air cargo service, cargo charters, military charters, and ACMI aircraft leasing in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis. “

A number of other equities research analysts have also recently issued reports on the company. Stifel Nicolaus restated a “hold” rating and set a $69.00 price objective on shares of Atlas Air Worldwide Holdings in a report on Tuesday, September 12th. Cowen and Company restated a “hold” rating and set a $70.00 price objective on shares of Atlas Air Worldwide Holdings in a report on Tuesday, September 5th. ValuEngine upgraded Atlas Air Worldwide Holdings from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Susquehanna Bancshares Inc assumed coverage on Atlas Air Worldwide Holdings in a report on Thursday, August 17th. They set a “positive” rating and a $72.00 price objective for the company. Finally, BidaskClub cut Atlas Air Worldwide Holdings from a “hold” rating to a “sell” rating in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Atlas Air Worldwide Holdings presently has an average rating of “Buy” and a consensus target price of $70.00.

Shares of Atlas Air Worldwide Holdings (AAWW) opened at 65.70 on Tuesday. Atlas Air Worldwide Holdings has a 12 month low of $40.25 and a 12 month high of $68.70. The company has a market cap of $1.66 billion, a P/E ratio of 28.08 and a beta of 1.40. The firm has a 50 day moving average price of $66.09 and a 200-day moving average price of $57.99.

Atlas Air Worldwide Holdings (NASDAQ:AAWW) last issued its quarterly earnings data on Wednesday, August 2nd. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.24. Atlas Air Worldwide Holdings had a return on equity of 8.11% and a net margin of 2.98%. The company had revenue of $517.37 million during the quarter, compared to analysts’ expectations of $500.44 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. Analysts anticipate that Atlas Air Worldwide Holdings will post $4.83 earnings per share for the current fiscal year.

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In related news, EVP Adam Richard Kokas sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $66.40, for a total value of $664,000.00. Following the completion of the sale, the executive vice president now directly owns 25,418 shares in the company, valued at $1,687,755.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Duncan J. Mcnabb sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $60.65, for a total value of $60,650.00. Following the completion of the sale, the director now owns 12,969 shares of the company’s stock, valued at $786,569.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,000 shares of company stock valued at $2,580,750. 2.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan boosted its stake in shares of Atlas Air Worldwide Holdings by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 5,710 shares of the transportation company’s stock valued at $317,000 after buying an additional 70 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Atlas Air Worldwide Holdings by 0.9% in the second quarter. Capstone Asset Management Co. now owns 8,990 shares of the transportation company’s stock valued at $469,000 after buying an additional 80 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Atlas Air Worldwide Holdings by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the transportation company’s stock valued at $537,000 after buying an additional 100 shares during the period. Arizona State Retirement System boosted its stake in shares of Atlas Air Worldwide Holdings by 0.8% in the second quarter. Arizona State Retirement System now owns 13,223 shares of the transportation company’s stock valued at $690,000 after buying an additional 100 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Atlas Air Worldwide Holdings by 1.0% in the first quarter. Oppenheimer & Co. Inc. now owns 14,890 shares of the transportation company’s stock valued at $826,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 96.41% of the company’s stock.

About Atlas Air Worldwide Holdings

Atlas Air Worldwide Holdings, Inc is a holding company. The Company provides outsourced aircraft and aviation operating services throughout the world, serving Africa, Asia, Australia, Europe, the Middle East, North America and South America through contractual service arrangements, including those through which it provides aircraft to customers and value-added services, including crew, maintenance and insurance (ACMI), as well as those through which it provides crew, maintenance and insurance, but not the aircraft (CMI); cargo and passenger charter services (Charter), and dry leasing aircraft and engines (Dry Leasing).

Analyst Recommendations for Atlas Air Worldwide Holdings (NASDAQ:AAWW)

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