Air Transport Services Group, Inc. (NASDAQ:ATSG) Short Interest Update

Air Transport Services Group, Inc. (NASDAQ:ATSG) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 2,620,000 shares, a drop of 5.4% from the October 31st total of 2,770,000 shares. Approximately 5.1% of the company’s shares are sold short. Based on an average daily trading volume, of 911,500 shares, the days-to-cover ratio is presently 2.9 days.

Air Transport Services Group Stock Up 0.7 %

ATSG stock opened at $22.13 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06. Air Transport Services Group has a twelve month low of $11.62 and a twelve month high of $22.27. The company’s 50 day moving average is $18.81 and its two-hundred day moving average is $16.06. The stock has a market cap of $1.46 billion, a P/E ratio of -553.25 and a beta of 0.85.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings data on Friday, November 8th. The transportation company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company had revenue of $471.00 million for the quarter, compared to analyst estimates of $507.46 million. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. Research analysts expect that Air Transport Services Group will post 0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

ATSG has been the subject of several recent research reports. Stifel Nicolaus raised their price objective on shares of Air Transport Services Group from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Loop Capital reissued a “hold” rating and issued a $22.50 price objective (up previously from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. StockNews.com initiated coverage on shares of Air Transport Services Group in a research note on Friday, November 29th. They issued a “hold” rating for the company. Finally, Truist Financial raised their price objective on shares of Air Transport Services Group from $15.00 to $22.50 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Air Transport Services Group has a consensus rating of “Hold” and a consensus target price of $20.60.

Hedge Funds Weigh In On Air Transport Services Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP purchased a new stake in shares of Air Transport Services Group during the 2nd quarter worth $34,000. Meeder Asset Management Inc. acquired a new position in Air Transport Services Group in the 2nd quarter valued at about $45,000. CWM LLC increased its stake in shares of Air Transport Services Group by 144.4% during the 2nd quarter. CWM LLC now owns 4,197 shares of the transportation company’s stock valued at $58,000 after acquiring an additional 2,480 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Air Transport Services Group during the 2nd quarter valued at about $58,000. Finally, Innealta Capital LLC acquired a new position in shares of Air Transport Services Group during the 2nd quarter valued at about $73,000. 91.81% of the stock is currently owned by hedge funds and other institutional investors.

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.