Zacks Research Comments on Air Transport Services Group, Inc.’s Q3 2023 Earnings (NASDAQ:ATSG)

Posted by Defense World Staff on Oct 5th, 2023

Air Transport Services Group, Inc. (NASDAQ:ATSG – Free Report) – Equities research analysts at Zacks Research cut their Q3 2023 earnings per share estimates for shares of Air Transport Services Group in a report released on Tuesday, October 3rd. Zacks Research analyst S. Pal now anticipates that the transportation company will post earnings per share of $0.41 for the quarter, down from their prior estimate of $0.42. The consensus estimate for Air Transport Services Group’s current full-year earnings is $1.88 per share. Zacks Research also issued estimates for Air Transport Services Group’s FY2025 earnings at $2.22 EPS.

Air Transport Services Group (NASDAQ:ATSG – Get Free Report) last issued its quarterly earnings results on Friday, August 4th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. Air Transport Services Group had a return on equity of 12.10% and a net margin of 7.30%. The business had revenue of $529.34 million during the quarter, compared to analyst estimates of $514.56 million. During the same quarter in the prior year, the business posted $0.59 EPS. Air Transport Services Group’s revenue for the quarter was up 3.9% compared to the same quarter last year.

A number of other research analysts have also weighed in on the company. Susquehanna raised their price objective on Air Transport Services Group from $18.00 to $26.00 and gave the company a “positive” rating in a research report on Wednesday, August 9th. Oppenheimer initiated coverage on shares of Air Transport Services Group in a research note on Wednesday, September 20th. They issued an “outperform” rating and a $27.00 price objective for the company. StockNews.com started coverage on shares of Air Transport Services Group in a research note on Thursday, August 17th. They issued a “hold” rating for the company. TD Cowen lifted their price target on shares of Air Transport Services Group from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Finally, Stifel Nicolaus decreased their price target on shares of Air Transport Services Group from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, September 28th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Air Transport Services Group currently has an average rating of “Moderate Buy” and an average price target of $26.50.

Check Out Our Latest Report on Air Transport Services Group

Air Transport Services Group Trading Up 1.3 %

Shares of Air Transport Services Group stock opened at $21.00 on Wednesday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 11.54 and a beta of 0.81. The business has a 50-day moving average price of $21.29 and a 200-day moving average price of $19.79. The company has a quick ratio of 0.75, a current ratio of 0.89 and a debt-to-equity ratio of 1.05. Air Transport Services Group has a twelve month low of $14.39 and a twelve month high of $29.55.

Insiders Place Their Bets

In other Air Transport Services Group news, major shareholder Amazon Com Inc sold 1,177,000 shares of Air Transport Services Group stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $19.50, for a total value of $22,951,500.00. Following the transaction, the insider now directly owns 12,741,445 shares of the company’s stock, valued at $248,458,177.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Air Transport Services Group

A number of large investors have recently made changes to their positions in the stock. River Road Asset Management LLC lifted its position in Air Transport Services Group by 2.9% during the second quarter. River Road Asset Management LLC now owns 8,723,159 shares of the transportation company’s stock valued at $164,606,000 after purchasing an additional 248,051 shares during the period. Vanguard Group Inc. lifted its stake in Air Transport Services Group by 19.2% in the 1st quarter. Vanguard Group Inc. now owns 6,379,988 shares of the transportation company’s stock worth $213,411,000 after purchasing an additional 1,029,325 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Air Transport Services Group by 5.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,827,039 shares of the transportation company’s stock worth $79,716,000 after purchasing an additional 190,746 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Air Transport Services Group by 22.9% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,645,832 shares of the transportation company’s stock worth $55,113,000 after buying an additional 492,574 shares during the last quarter. Finally, U S Global Investors Inc. acquired a new stake in shares of Air Transport Services Group during the 2nd quarter worth approximately $36,201,000. 91.81% of the stock is owned by hedge funds and other institutional investors.

Air Transport Services Group Company Profile

(Get Free Report)

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing, and air cargo transportation and related services in the United States and internationally. It operates in two segments: Cargo Aircraft Management Inc (CAM), and ACMI Services. The company offers aircraft, flight crews, aircraft hull and liability insurance, and aviation fuel services; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services, and aircraft line maintenance.