Air Transport Services Group, Inc. (NASDAQ:ATSG) Shares Purchased by Phocas Financial Corp.

Phocas Financial Corp. boosted its stake in Air Transport Services Group, Inc. (NASDAQ:ATSG) by 49.4% in the 3rd quarter, Holdings Channel reports. The firm owned 223,036 shares of the transportation company’s stock after purchasing an additional 73,752 shares during the period. Phocas Financial Corp.’s holdings in Air Transport Services Group were worth $3,611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ATSG. Gladius Capital Management LP acquired a new stake in shares of Air Transport Services Group in the second quarter valued at $34,000. Meeder Asset Management Inc. purchased a new stake in Air Transport Services Group during the second quarter worth about $45,000. CWM LLC lifted its position in shares of Air Transport Services Group by 144.4% during the second quarter. CWM LLC now owns 4,197 shares of the transportation company’s stock worth $58,000 after purchasing an additional 2,480 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Air Transport Services Group during the 2nd quarter worth approximately $58,000. Finally, Innealta Capital LLC purchased a new stake in Air Transport Services Group during the 2nd quarter worth approximately $73,000. Hedge funds and other institutional investors own 91.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. StockNews.com began coverage on Air Transport Services Group in a research report on Wednesday, November 13th. They set a “hold” rating on the stock. Stifel Nicolaus increased their price target on Air Transport Services Group from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Loop Capital reiterated a “hold” rating and issued a $22.50 price objective (up previously from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. Finally, Truist Financial raised their target price on shares of Air Transport Services Group from $15.00 to $22.50 and gave the company a “hold” rating in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Transport Services Group presently has a consensus rating of “Hold” and an average target price of $20.60.

Air Transport Services Group Stock Down 0.2 %

NASDAQ:ATSG opened at $21.97 on Tuesday. Air Transport Services Group, Inc. has a 1 year low of $11.62 and a 1 year high of $22.27. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The stock has a 50-day simple moving average of $17.07 and a 200-day simple moving average of $15.37.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings results on Friday, November 8th. The transportation company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. The business had revenue of $471.00 million during the quarter, compared to analyst estimates of $507.46 million. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. On average, equities analysts forecast that Air Transport Services Group, Inc. will post 0.84 earnings per share for the current year.

About Air Transport Services Group

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.