Air Transport Services Group (NASDAQ:ATSG) Sees Strong Trading Volume – What’s Next?

Air Transport Services Group, Inc. (NASDAQ:ATSG) shares saw strong trading volume on Monday . 2,132,239 shares traded hands during mid-day trading, an increase of 168% from the previous session’s volume of 794,399 shares.The stock last traded at $22.23 and had previously closed at $22.40.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Air Transport Services Group in a report on Sunday. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.60.

Air Transport Services Group Stock Performance

The firm has a fifty day simple moving average of $22.31 and a 200-day simple moving average of $20.80. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -557.86 and a beta of 0.89. 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 (NASDAQ:ATSG) last posted its quarterly earnings results on Monday, March 3rd. The transportation company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $521.36 million. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. Analysts forecast that Air Transport Services Group, Inc. will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Air Transport Services Group

Institutional investors and hedge funds have recently modified their holdings of the business. Independence Bank of Kentucky acquired a new stake in Air Transport Services Group during the 4th quarter worth $33,000. Sterling Capital Management LLC boosted its position in shares of Air Transport Services Group by 797.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,642 shares of the transportation company’s stock worth $36,000 after purchasing an additional 1,459 shares during the last quarter. AlphaQuest LLC boosted its position in shares of Air Transport Services Group by 89.8% in the 4th quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company’s stock worth $58,000 after purchasing an additional 1,246 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Air Transport Services Group by 2,143.9% during the first quarter. GAMMA Investing LLC now owns 3,680 shares of the transportation company’s stock worth $83,000 after purchasing an additional 3,516 shares during the period. Finally, Covestor Ltd increased its holdings in Air Transport Services Group by 96.8% in the fourth quarter. Covestor Ltd now owns 3,729 shares of the transportation company’s stock valued at $82,000 after purchasing an additional 1,834 shares during the last quarter. 91.81% of the stock is owned by 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.