Today: Today, Seaport Global Securities Initiates Coverage on Air Transport Services Group Inc. (ATSG)

Today, Seaport Global Securities Initiates Coverage on Air Transport Services Group Inc. (ATSG)

Stock analysts at Seaport Global Securities initiated coverage on shares of Air Transport Services Group Inc. (NASDAQ:ATSG) in a report released on Tuesday, The Fly reports. The firm set a “buy” rating on the stock.

Several other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded Air Transport Services Group from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, August 23rd. TheStreet upgraded Air Transport Services Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th. Finally, Stifel Nicolaus started coverage on Air Transport Services Group in a report on Thursday, August 25th. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $17.00.

Shares of Air Transport Services Group (NASDAQ:ATSG) opened at 16.33 on Tuesday. The company has a market capitalization of $972.75 million, a PE ratio of 28.85 and a beta of 1.84. Air Transport Services Group has a 52 week low of $8.73 and a 52 week high of $16.95. The company has a 50-day moving average price of $14.94 and a 200-day moving average price of $14.04.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. The firm earned $193.26 million during the quarter, compared to the consensus estimate of $183.05 million. Air Transport Services Group had a return on equity of 10.56% and a net margin of 5.04%. Air Transport Services Group’s revenue for the quarter was up 35.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. Analysts predict that Air Transport Services Group will post $0.62 earnings per share for the current year.

In related news, Director Jeffrey J. Vorholt sold 8,100 shares of the stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $15.90, for a total transaction of $128,790.00. Following the sale, the director now directly owns 28,000 shares of the company’s stock, valued at $445,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph C. Hete sold 50,000 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $16.24, for a total value of $812,000.00. Following the sale, the chief executive officer now directly owns 674,992 shares in the company, valued at $10,961,870.08. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Air Transport Services Group by 2.9% in the third quarter. BlackRock Inc. now owns 11,855 shares of the company’s stock valued at $171,000 after buying an additional 337 shares during the period. BlackRock Advisors LLC boosted its position in shares of Air Transport Services Group by 1.6% in the second quarter. BlackRock Advisors LLC now owns 25,449 shares of the company’s stock valued at $330,000 after buying an additional 401 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Air Transport Services Group by 10.2% in the third quarter. SG Americas Securities LLC now owns 8,873 shares of the company’s stock valued at $127,000 after buying an additional 821 shares during the last quarter. Sei Investments Co. boosted its position in shares of Air Transport Services Group by 2.8% in the second quarter. Sei Investments Co. now owns 33,635 shares of the company’s stock valued at $436,000 after buying an additional 905 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Air Transport Services Group by 1.1% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 97,950 shares of the company’s stock valued at $1,406,000 after buying an additional 1,100 shares during the last quarter. 87.15% of the stock is currently owned by institutional investors.

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. Through the Company’s subsidiaries, it offers a range of complementary services to delivery companies, freight forwarders, airlines and government customers.

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