StockNews.com Begins Coverage on Air T (NASDAQ:AIRT)

Stock analysts at StockNews.com began coverage on shares of Air T (NASDAQ:AIRTGet Free Report) in a research note issued to investors on Saturday. The firm set a “hold” rating on the transportation company’s stock.

Air T Price Performance

Shares of NASDAQ:AIRT opened at $22.20 on Friday. The company has a current ratio of 1.99, a quick ratio of 0.79 and a debt-to-equity ratio of 10.49. The firm has a market cap of $62.60 million, a price-to-earnings ratio of -4.47 and a beta of 0.73. Air T has a 1 year low of $12.53 and a 1 year high of $28.62. The business has a fifty day simple moving average of $17.84 and a 200 day simple moving average of $18.99.

Air T (NASDAQ:AIRTGet Free Report) last posted its earnings results on Monday, February 12th. The transportation company reported ($1.06) EPS for the quarter. The business had revenue of $63.76 million for the quarter. Air T had a negative return on equity of 87.44% and a negative net margin of 4.91%.

Institutional Investors Weigh In On Air T

Several hedge funds and other institutional investors have recently made changes to their positions in AIRT. UBS Group AG grew its position in Air T by 11,365.0% during the fourth quarter. UBS Group AG now owns 14,102 shares of the transportation company’s stock worth $238,000 after buying an additional 13,979 shares in the last quarter. DCF Advisers LLC lifted its stake in Air T by 20.0% during the first quarter. DCF Advisers LLC now owns 12,000 shares of the transportation company’s stock worth $273,000 after purchasing an additional 1,996 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Air T by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,569 shares of the transportation company’s stock valued at $441,000 after acquiring an additional 752 shares during the last quarter. Morgan Stanley raised its stake in shares of Air T by 2.2% in the fourth quarter. Morgan Stanley now owns 22,750 shares of the transportation company’s stock valued at $562,000 after acquiring an additional 500 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Air T by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 53,347 shares of the transportation company’s stock worth $913,000 after purchasing an additional 2,300 shares during the last quarter. 8.90% of the stock is owned by institutional investors and hedge funds.

Air T Company Profile

(Get Free Report)

Air T, Inc, through its subsidiaries, provides overnight air cargo, ground equipment sale, and commercial jet engines and parts in the United States and internationally. The Overnight Air Cargo segment offers air express delivery services. As of March 31, 2023, this segment had 85 aircraft under the dry-lease agreements with FedEx.

Further Reading

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