Air Transport Services Group (ATSG) Upgraded by TheStreet to B
A number of other equities research analysts have also weighed in on the company. ValuEngine raised Air Transport Services Group from a hold rating to a buy rating in a research report on Thursday. Imperial Capital reissued an in-line rating and issued a $26.00 price target (up from $23.00) on shares of Air Transport Services Group in a research report on Thursday. Cowen boosted their price target on Air Transport Services Group from $27.00 to $30.00 and gave the stock an outperform rating in a research report on Wednesday. BidaskClub lowered Air Transport Services Group from a buy rating to a hold rating in a research report on Tuesday, February 20th. Finally, Stephens reissued a buy rating and issued a $32.00 price target on shares of Air Transport Services Group in a research report on Wednesday, January 10th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Air Transport Services Group currently has an average rating of Buy and a consensus price target of $27.14.
Shares of Air Transport Services Group (ATSG) opened at $24.97 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $1,485.54, a price-to-earnings ratio of -113.49 and a beta of 1.74. Air Transport Services Group has a 1 year low of $15.34 and a 1 year high of $27.67.
Air Transport Services Group declared that its board has approved a stock buyback program on Tuesday, February 27th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In other news, insider W Joseph Payne sold 7,500 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $26.09, for a total value of $195,675.00. Following the completion of the transaction, the insider now directly owns 155,060 shares of the company’s stock, valued at approximately $4,045,515.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Quint O. Turner sold 6,750 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $23.98, for a total value of $161,865.00. Following the completion of the transaction, the chief financial officer now directly owns 264,425 shares of the company’s stock, valued at $6,340,911.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,900 shares of company stock valued at $849,681. Corporate insiders own 2.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. grew its stake in Air Transport Services Group by 73.2% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,799 shares of the transportation company’s stock worth $181,000 after buying an additional 3,295 shares during the last quarter. SG Americas Securities LLC purchased a new position in Air Transport Services Group during the 3rd quarter worth $258,000. Prudential Financial Inc. purchased a new position in Air Transport Services Group during the 3rd quarter worth $262,000. Paloma Partners Management Co purchased a new position in Air Transport Services Group during the 4th quarter worth $253,000. Finally, Jefferies Group LLC purchased a new position in Air Transport Services Group during the 4th quarter worth $283,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.
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Air Transport Services Group Company Profile
Air Transport Services Group, Inc (ATSG) is a holding company. The Company provides airline operations, aircraft leases, aircraft maintenance and other support services primarily to the cargo transportation and package delivery industries. It offers aircraft, crew, maintenance and insurance (ACMI) for specified cargo operations.
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