Equities Analysts Decrease Earnings Estimates for Air Transport Services Group Inc. (NASDAQ:ATSG)

Equities Analysts Decrease Earnings Estimates for Air Transport Services Group Inc. (NASDAQ:ATSG)

Air Transport Services Group Inc. (NASDAQ:ATSG) – Equities research analysts at Seaport Global Securities reduced their Q2 2019 earnings per share (EPS) estimates for shares of Air Transport Services Group in a report issued on Thursday, May 16th, Zacks Investment Research reports. Seaport Global Securities analyst K. Sterling now anticipates that the transportation company will earn $0.20 per share for the quarter, down from their previous forecast of $0.25. Seaport Global Securities also issued estimates for Air Transport Services Group’s Q3 2019 earnings at $0.28 EPS, Q4 2019 earnings at $0.36 EPS and FY2019 earnings at $1.22 EPS.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Air Transport Services Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. Imperial Capital reiterated an “outperform” rating and issued a $31.00 target price (up from $28.00) on shares of Air Transport Services Group in a research report on Thursday, May 9th. BidaskClub downgraded Air Transport Services Group from a “hold” rating to a “sell” rating in a research report on Saturday, May 4th. Stifel Nicolaus set a $26.00 price objective on Air Transport Services Group and gave the company a “buy” rating in a research report on Thursday, May 16th. Finally, ValuEngine downgraded Air Transport Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Air Transport Services Group presently has a consensus rating of “Buy” and an average target price of $28.17.

Shares of NASDAQ:ATSG traded up $0.27 during mid-day trading on Monday, reaching $23.69. The stock had a trading volume of 166,895 shares, compared to its average volume of 421,367. The company has a current ratio of 0.99, a quick ratio of 0.85 and a debt-to-equity ratio of 3.60. The company has a market capitalization of $1.41 billion, a P/E ratio of 18.74 and a beta of 0.93. Air Transport Services Group has a 1 year low of $17.06 and a 1 year high of $25.82.

Air Transport Services Group (NASDAQ:ATSG) last posted its earnings results on Tuesday, May 7th. The transportation company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $348.18 million for the quarter, compared to the consensus estimate of $306.01 million. Air Transport Services Group had a return on equity of 20.87% and a net margin of 7.33%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATSG. Equitable Trust Co. boosted its position in Air Transport Services Group by 6.6% during the 1st quarter. Equitable Trust Co. now owns 62,227 shares of the transportation company’s stock valued at $1,434,000 after acquiring an additional 3,855 shares in the last quarter. Man Group plc bought a new stake in Air Transport Services Group during the 1st quarter valued at $2,575,000. Arrowgrass Capital Partners US LP boosted its position in Air Transport Services Group by 23.9% during the 1st quarter. Arrowgrass Capital Partners US LP now owns 190,978 shares of the transportation company’s stock valued at $4,402,000 after acquiring an additional 36,800 shares in the last quarter. Ellington Management Group LLC bought a new stake in Air Transport Services Group during the 1st quarter valued at $279,000. Finally, Hsbc Holdings PLC bought a new stake in Air Transport Services Group during the 1st quarter valued at $202,000. 90.52% of the stock is currently owned by hedge funds and other institutional investors.

In other Air Transport Services Group news, CFO Quint O. Turner sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $23.34, for a total transaction of $70,020.00. Following the sale, the chief financial officer now directly owns 244,303 shares in the company, valued at $5,702,032.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael L. Berger acquired 1,200 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were bought at an average price of $22.22 per share, for a total transaction of $26,664.00. Following the completion of the transaction, the insider now owns 24,950 shares of the company’s stock, valued at $554,389. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 65,475 shares of company stock worth $1,370,581 and have sold 18,334 shares worth $430,071. Corporate insiders own 2.30% of the company’s stock.

About Air Transport Services Group

Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.

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