Air Transport Services Group, Inc. (NASDAQ:ATSG) Sees Significant Drop in Short Interest

Air Transport Services Group, Inc. (NASDAQ:ATSG) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 3,770,000 shares, a decline of 9.6% from the March 31st total of 4,170,000 shares. Approximately 7.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 634,800 shares, the short-interest ratio is currently 5.9 days.

Analysts Set New Price Targets

ATSG has been the topic of a number of analyst reports. StockNews.com cut shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Susquehanna dropped their target price on Air Transport Services Group from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Truist Financial reduced their price target on Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating on the stock in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.33.

Air Transport Services Group Stock Down 1.8 %

Shares of NASDAQ ATSG traded down $0.24 during mid-day trading on Tuesday, reaching $12.79. 176,092 shares of the company were exchanged, compared to its average volume of 613,635. Air Transport Services Group has a 1 year low of $11.62 and a 1 year high of $24.96. The firm has a 50-day moving average of $12.90 and a 200 day moving average of $15.32. The stock has a market cap of $840.05 million, a price-to-earnings ratio of 17.37 and a beta of 0.85. The company has a quick ratio of 0.74, a current ratio of 0.86 and a debt-to-equity ratio of 1.25.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings results on Monday, February 26th. The transportation company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.11). The firm had revenue of $517.04 million during the quarter, compared to analysts’ expectations of $521.04 million. Air Transport Services Group had a return on equity of 7.93% and a net margin of 2.91%. On average, research analysts expect that Air Transport Services Group will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On Air Transport Services Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Air Transport Services Group in the fourth quarter valued at approximately $26,000. CWM LLC increased its holdings in shares of Air Transport Services Group by 53.9% during the 4th quarter. CWM LLC now owns 2,191 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 767 shares in the last quarter. Cetera Trust Company N.A acquired a new position in shares of Air Transport Services Group in the 4th quarter valued at $90,000. C M Bidwell & Associates Ltd. purchased a new stake in Air Transport Services Group during the third quarter worth $196,000. Finally, Claro Advisors LLC acquired a new stake in Air Transport Services Group during the first quarter valued at $197,000. 91.81% of the stock is currently owned by institutional investors and hedge funds.

Air Transport Services Group Company Profile

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing, and air cargo transportation and related services in the United States and internationally. It operates in two segments, Cargo Aircraft Management Inc (CAM) and ACMI Services. The company offers aircraft, flight crews, aircraft hull and liability insurance, and aviation fuel services; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services, and aircraft line maintenance.