Air Transport Services Group, Inc (ATSG) Announces Earnings Results
Air Transport Services Group, Inc (NASDAQ:ATSG) posted its quarterly earnings data on Monday. The transportation company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02, Briefing.com reports. The firm had revenue of $253.21 million during the quarter, compared to the consensus estimate of $235.69 million. Air Transport Services Group had a net margin of 3.05% and a return on equity of 11.82%. The business’s revenue for the quarter was up 43.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 EPS.
Shares of Air Transport Services Group (NASDAQ:ATSG) traded up 0.92% during trading on Monday, hitting $25.14. 515,726 shares of the stock traded hands. The company has a market cap of $1.50 billion, a P/E ratio of 68.32 and a beta of 2.01. The stock has a 50-day moving average of $22.89 and a 200 day moving average of $19.51. Air Transport Services Group has a 1-year low of $12.94 and a 1-year high of $25.75.
In other news, insider W Joseph Payne sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $24.52, for a total value of $122,600.00. Following the completion of the transaction, the insider now directly owns 185,452 shares in the company, valued at $4,547,283.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Matthew E. Fedders sold 4,102 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $22.24, for a total transaction of $91,228.48. Following the completion of the transaction, the vice president now owns 24,842 shares of the company’s stock, valued at $552,486.08. The disclosure for this sale can be found here. Insiders sold 4,473,192 shares of company stock valued at $100,349,450 over the last 90 days. 2.20% of the stock is owned by company insiders.
ATSG has been the subject of a number of recent research reports. Imperial Capital boosted their price objective on shares of Air Transport Services Group from $18.00 to $23.00 and gave the company an “in-line” rating in a report on Monday, May 15th. BidaskClub raised shares of Air Transport Services Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Sidoti reissued a “buy” rating and issued a $26.00 price objective (up previously from $23.00) on shares of Air Transport Services Group in a report on Sunday, May 14th. Cowen and Company boosted their price objective on shares of Air Transport Services Group from $19.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Finally, Zacks Investment Research raised shares of Air Transport Services Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $23.00.
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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