Zacks Investment Research Upgrades Air Transport Services Group (NASDAQ:ATSG) to Strong-Buy

Zacks Investment Research upgraded shares of Air Transport Services Group (NASDAQ:ATSG) from a hold rating to a strong-buy rating in a research note published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $27.00 price target on the transportation company’s stock.

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 topic of several other reports. Stifel Nicolaus set a $26.00 target price on Air Transport Services Group and gave the stock a buy rating in a research report on Thursday, May 16th. BidaskClub cut Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. Finally, Imperial Capital raised their target price on PARKER DRILLING/SH PAR $ from $20.00 to $25.00 and gave the stock an outperform rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Air Transport Services Group has an average rating of Buy and an average target price of $28.67.

NASDAQ ATSG opened at $23.70 on Tuesday. Air Transport Services Group has a one year low of $17.06 and a one year high of $25.82. The stock has a 50-day simple moving average of $23.07. The company has a market cap of $1.38 billion, a P/E ratio of 17.56 and a beta of 0.98. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.99 and a quick ratio of 0.85.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. Air Transport Services Group had a return on equity of 20.87% and a net margin of 7.33%. The company had revenue of $348.18 million during the quarter, compared to the consensus estimate of $306.01 million. On average, equities research analysts anticipate that Air Transport Services Group will post 1.32 EPS for the current year.

In other news, Director Robert K. Coretz bought 25,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of $21.75 per share, with a total value of $543,750.00. Following the completion of the transaction, the director now owns 125,000 shares of the company’s stock, valued at approximately $2,718,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Quint O. Turner sold 6,125 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $23.94, for a total value of $146,632.50. Following the completion of the transaction, the chief financial officer now directly owns 242,603 shares in the company, valued at $5,807,915.82. The disclosure for this sale can be found here. Over the last three months, insiders acquired 27,200 shares of company stock worth $592,104 and sold 20,334 shares worth $482,581. Company insiders own 2.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Quantamental Technologies LLC purchased a new position in shares of Air Transport Services Group during the 1st quarter valued at about $50,000. Great West Life Assurance Co. Can purchased a new position in shares of Air Transport Services Group during the 4th quarter valued at about $73,000. Amalgamated Bank purchased a new position in shares of Air Transport Services Group during the 4th quarter valued at about $201,000. Suntrust Banks Inc. purchased a new position in shares of Air Transport Services Group during the 4th quarter valued at about $226,000. Finally, Bluestein R H & Co. purchased a new position in shares of Air Transport Services Group during the 1st quarter valued at about $231,000. 90.52% of the stock is currently owned by hedge funds and other institutional investors.

About Air Transport Services Group

Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.

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