Zacks Investment Research Lowers Atlas Air Worldwide (AAWW) to Hold

Atlas Air Worldwide (NASDAQ:AAWW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Atlas Air Worldwide Holdings, Inc. is the parent company of Atlas Air and Polar Air Cargo, which together operate the world’s largest fleet of Boeing freighter aircraft. AAWW is principally involved in the airport-to-airport air transportation of heavy freight cargo through its two operating subsidiary airlines, Atlas Air, Inc. and Polar Air Cargo, IncAAWW, through its principal subsidiaries Atlas and Polar, offers scheduled air cargo service, cargo charters, military charters, and ACMI aircraft leasing in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis. “

A number of other analysts have also issued reports on AAWW. Cowen reiterated a “hold” rating on shares of Atlas Air Worldwide in a research note on Thursday, October 12th. Stifel Nicolaus upgraded shares of Atlas Air Worldwide from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Tuesday, November 7th. ValuEngine lowered shares of Atlas Air Worldwide from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 14th. Finally, BidaskClub upgraded shares of Atlas Air Worldwide from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 21st. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $71.50.

Shares of Atlas Air Worldwide (NASDAQ:AAWW) traded up $0.55 during trading hours on Monday, reaching $62.05. 252,900 shares of the company’s stock were exchanged, compared to its average volume of 346,146. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $1,560.00, a price-to-earnings ratio of 37.84 and a beta of 1.38. Atlas Air Worldwide has a one year low of $45.45 and a one year high of $68.70.

Atlas Air Worldwide (NASDAQ:AAWW) last issued its quarterly earnings results on Tuesday, November 7th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.05). The business had revenue of $535.70 million for the quarter, compared to analysts’ expectations of $521.29 million. Atlas Air Worldwide had a return on equity of 8.14% and a net margin of 2.06%. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the company earned $1.09 earnings per share. equities analysts forecast that Atlas Air Worldwide will post 4.59 earnings per share for the current fiscal year.

In other news, CFO Spencer Schwartz sold 4,027 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $59.75, for a total transaction of $240,613.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William J. Flynn sold 5,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $61.21, for a total value of $306,050.00. Following the transaction, the chief executive officer now directly owns 171,958 shares of the company’s stock, valued at $10,525,549.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,222 shares of company stock valued at $1,160,548. Corporate insiders own 2.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. California Public Employees Retirement System grew its position in shares of Atlas Air Worldwide by 0.4% during the second quarter. California Public Employees Retirement System now owns 74,400 shares of the transportation company’s stock worth $3,880,000 after buying an additional 300 shares in the last quarter. Thrivent Financial For Lutherans boosted its holdings in Atlas Air Worldwide by 6.5% in the second quarter. Thrivent Financial For Lutherans now owns 15,200 shares of the transportation company’s stock valued at $793,000 after purchasing an additional 930 shares in the last quarter. American International Group Inc. boosted its holdings in Atlas Air Worldwide by 5.6% in the third quarter. American International Group Inc. now owns 18,681 shares of the transportation company’s stock valued at $1,229,000 after purchasing an additional 989 shares in the last quarter. Supplemental Annuity Collective Trust of NJ boosted its holdings in Atlas Air Worldwide by 5.6% in the third quarter. Supplemental Annuity Collective Trust of NJ now owns 19,000 shares of the transportation company’s stock valued at $1,250,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Cubic Asset Management LLC boosted its holdings in Atlas Air Worldwide by 3.5% in the third quarter. Cubic Asset Management LLC now owns 32,560 shares of the transportation company’s stock valued at $2,142,000 after purchasing an additional 1,100 shares in the last quarter.

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About Atlas Air Worldwide

Atlas Air Worldwide Holdings, Inc is a holding company. The Company provides outsourced aircraft and aviation operating services throughout the world, serving Africa, Asia, Australia, Europe, the Middle East, North America and South America through contractual service arrangements, including those through which it provides aircraft to customers and value-added services, including crew, maintenance and insurance (ACMI), as well as those through which it provides crew, maintenance and insurance, but not the aircraft (CMI); cargo and passenger charter services (Charter), and dry leasing aircraft and engines (Dry Leasing).

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