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

Air Transport Services Group, Inc. (NASDAQ:ATSG) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 3,370,000 shares, a decrease of 5.9% from the August 31st total of 3,580,000 shares. Approximately 6.6% of the company’s shares are sold short. Based on an average daily volume of 472,400 shares, the days-to-cover ratio is currently 7.1 days.

Air Transport Services Group Trading Up 1.8 %

Shares of Air Transport Services Group stock traded up $0.29 on Monday, reaching $16.07. The company had a trading volume of 220,729 shares, compared to its average volume of 528,926. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.62 and a current ratio of 0.74. The firm has a market cap of $1.06 billion, a PE ratio of 25.05 and a beta of 0.82. The firm’s 50 day moving average price is $15.46 and its two-hundred day moving average price is $14.14. Air Transport Services Group has a 52-week low of $11.62 and a 52-week high of $21.78.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings results on Thursday, August 8th. The transportation company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Air Transport Services Group had a return on equity of 4.24% and a net margin of 0.90%. The company had revenue of $488.41 million for the quarter, compared to analysts’ expectations of $513.67 million. During the same period in the prior year, the firm earned $0.57 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. Sell-side analysts predict that Air Transport Services Group will post 0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Air Transport Services Group

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ATSG shares. Truist Financial lifted their price target on shares of 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. Stifel Nicolaus lifted their target price on Air Transport Services Group from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.25.

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.