Raymond James & Associates Decreases Holdings in Air Transport Services Group, Inc. (NASDAQ:ATSG)

Raymond James & Associates reduced its position in Air Transport Services Group, Inc. (NASDAQ:ATSG) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 449,348 shares of the transportation company’s stock after selling 16,738 shares during the quarter. Raymond James & Associates owned about 0.68% of Air Transport Services Group worth $6,232,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Gladius Capital Management LP purchased a new position in Air Transport Services Group during the 2nd quarter worth $34,000. CWM LLC boosted its holdings in Air Transport Services Group by 53.9% in the fourth quarter. CWM LLC now owns 2,191 shares of the transportation company’s stock worth $39,000 after acquiring an additional 767 shares in the last quarter. Covestor Ltd grew its stake in shares of Air Transport Services Group by 59.0% during the first quarter. Covestor Ltd now owns 8,234 shares of the transportation company’s stock worth $113,000 after acquiring an additional 3,054 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Air Transport Services Group during the first quarter valued at about $157,000. Finally, Claro Advisors LLC purchased a new position in shares of Air Transport Services Group in the 1st quarter valued at approximately $197,000. 91.81% of the stock is owned by institutional investors and hedge funds.

Air Transport Services Group Price Performance

Shares of ATSG opened at $16.40 on Wednesday. The business’s 50-day moving average is $14.79 and its two-hundred day moving average is $13.79. The company has a market capitalization of $1.08 billion, a P/E ratio of 26.03 and a beta of 0.84. Air Transport Services Group, Inc. has a fifty-two week low of $11.62 and a fifty-two week high of $22.17. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.63 and a current ratio of 0.75.

Air Transport Services Group (NASDAQ:ATSG) last posted its earnings results on Thursday, August 8th. The transportation company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. Air Transport Services Group had a return on equity of 6.61% and a net margin of 2.37%. The firm had revenue of $488.41 million for the quarter, compared to analyst estimates of $513.67 million. During the same period last year, the company earned $0.57 earnings per share. Air Transport Services Group’s revenue for the quarter was down 7.7% compared to the same quarter last year. Research analysts predict that Air Transport Services Group, Inc. will post 0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ATSG shares. TD Cowen upped their price target on shares of Air Transport Services Group from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Truist Financial upped their target price on Air Transport Services Group from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Susquehanna lifted their price target on Air Transport Services Group from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Stifel Nicolaus increased their price objective on Air Transport Services Group from $23.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, StockNews.com raised Air Transport Services Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.67.

About Air Transport Services Group

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.