Air Transport Services Group, Inc (NASDAQ:ATSG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “AIR TRANSPORT SERVICES GROUP, INC. is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Through five principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier Certificates, ATSG also provides aircraft leasing, aircraft maintenance services, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. ATSG subsidiaries include ABX Air, Inc., Air Transport International, LLC, Cargo Aircraft Management, Inc., Capital Cargo International Airlines, Inc., and LGSTX Services, Inc. “

Several other brokerages also recently weighed in on ATSG. Imperial Capital upped their price target on Air Transport Services Group from $18.00 to $23.00 and gave the stock an “in-line” rating in a report on Monday, May 15th. Sidoti restated a “buy” rating and set a $26.00 price target (up previously from $23.00) on shares of Air Transport Services Group in a report on Sunday, May 14th. Cowen and Company upped their price target on Air Transport Services Group from $19.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Finally, BidaskClub downgraded Air Transport Services Group from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $23.50.

Shares of Air Transport Services Group (NASDAQ ATSG) traded down 0.04% during midday trading on Monday, reaching $23.34. The company had a trading volume of 209,370 shares. The company’s 50 day moving average price is $22.87 and its 200-day moving average price is $18.37. Air Transport Services Group has a 52 week low of $12.94 and a 52 week high of $24.21. The company has a market capitalization of $1.39 billion, a P/E ratio of 63.42 and a beta of 1.99.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings results on Wednesday, May 3rd. The transportation company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.06. Air Transport Services Group had a return on equity of 11.82% and a net margin of 3.05%. The company had revenue of $237.92 million for the quarter, compared to the consensus estimate of $214.09 million. On average, equities research analysts predict that Air Transport Services Group will post $0.96 earnings per share for the current fiscal year.

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In other news, insider Brady Thomas Templeton sold 3,500 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $23.72, for a total transaction of $83,020.00. Following the completion of the transaction, the insider now directly owns 90,729 shares of the company’s stock, valued at approximately $2,152,091.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joseph C. Hete sold 50,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $22.93, for a total value of $1,146,500.00. Following the transaction, the chief executive officer now directly owns 635,669 shares of the company’s stock, valued at $14,575,890.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,468,192 shares of company stock worth $100,226,850. 2.20% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in Air Transport Services Group by 18.2% in the first quarter. Victory Capital Management Inc. now owns 6,887 shares of the transportation company’s stock valued at $111,000 after buying an additional 1,058 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Air Transport Services Group by 87.5% in the first quarter. Envestnet Asset Management Inc. now owns 11,136 shares of the transportation company’s stock valued at $180,000 after buying an additional 5,196 shares in the last quarter. SG Americas Securities LLC boosted its position in Air Transport Services Group by 17.1% in the first quarter. SG Americas Securities LLC now owns 11,196 shares of the transportation company’s stock valued at $180,000 after buying an additional 1,632 shares in the last quarter. Globeflex Capital L P boosted its position in Air Transport Services Group by 17,878.8% in the first quarter. Globeflex Capital L P now owns 11,866 shares of the transportation company’s stock valued at $190,000 after buying an additional 11,800 shares in the last quarter. Finally, Intrust Bank NA acquired a new position in Air Transport Services Group during the first quarter valued at about $233,000. 87.32% of the stock is owned by institutional investors and hedge funds.

About Air Transport Services Group

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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Analyst Recommendations for Air Transport Services Group (NASDAQ:ATSG)

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