The stock of Air Transport Services Group Inc. (NASDAQ:ATSG) hit a new 52-week high and has $20.61 target or 24.00% above today’s $16.62 share price. The 8 months bullish chart indicates low risk for the $995.47M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $20.61 price target is reached, the company will be worth $238.91 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 35,722 shares traded hands. Air Transport Services Group Inc. (NASDAQ:ATSG) has risen 11.53% since April 19, 2016 and is uptrending. It has outperformed by 7.67% the S&P500.
Air Transport Services Group Inc. (NASDAQ:ATSG) Ratings Coverage
Out of 2 analysts covering Air Transport Services Group (NASDAQ:ATSG), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $14 is the highest target while $12 is the lowest. The $13 average target is -21.78% below today’s ($16.62) stock price. Air Transport Services Group has been the topic of 4 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Stifel Nicolaus initiated Air Transport Services Group Inc. (NASDAQ:ATSG) on Friday, August 26 with “Hold” rating. On Sunday, August 9 the stock rating was maintained by Imperial Capital with “Outperform”. The company was maintained on Wednesday, February 10 by Cowen & Co.
According to Zacks Investment Research, “AIR TRANSPORT SERVICES GROUP, INC. is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Through five principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier Certificates, ATSG also provides aircraft leasing, aircraft maintenance services, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. ATSG subsidiaries include ABX Air, Inc., Air Transport International, LLC, Cargo Aircraft Management, Inc., Capital Cargo International Airlines, Inc., and LGSTX Services, Inc.”
Insitutional Activity: The institutional sentiment decreased to 0.88 in 2016 Q2. Its down 0.09, from 0.97 in 2016Q1. The ratio worsened, as 22 funds sold all Air Transport Services Group Inc. shares owned while 41 reduced positions. 22 funds bought stakes while 39 increased positions. They now own 52.58 million shares or 4.28% less from 54.93 million shares in 2016Q1.
The New York-based Tower Rech Cap Ltd Limited Liability Company (Trc) has invested 0% in Air Transport Services Group Inc. (NASDAQ:ATSG). Nj State Employees Deferred Compensation Plan holds 0.03% of its portfolio in Air Transport Services Group Inc. (NASDAQ:ATSG) for 10,000 shares. Paradigm Asset Management Ltd Liability reported 2,950 shares or 0% of all its holdings. Amer Group has invested 0% of its portfolio in Air Transport Services Group Inc. (NASDAQ:ATSG). Vanguard accumulated 3.66M shares or 0% of the stock. Panagora Asset Mngmt holds 0% of its portfolio in Air Transport Services Group Inc. (NASDAQ:ATSG) for 62,759 shares. Rhumbline Advisers, a Massachusetts-based fund reported 69,086 shares. River Road Asset Mgmt Limited Liability Company has 0.66% invested in the company for 2.39 million shares. The Illinois-based Driehaus Capital Mgmt Lc has invested 0.12% in Air Transport Services Group Inc. (NASDAQ:ATSG). Red Mountain Prns Limited Liability Corporation holds 39.34% of its portfolio in Air Transport Services Group Inc. (NASDAQ:ATSG) for 11.15 million shares. Phoenix Invest Adviser Ltd owns 63,913 shares or 0.77% of their US portfolio. Victory Cap Management Incorporated has 5,964 shares for 0% of their US portfolio. The Pennsylvania-based Sei Investments has invested 0% in Air Transport Services Group Inc. (NASDAQ:ATSG). Blackrock Limited owns 4,350 shares or 0% of their US portfolio. Moreover, Princeton Alpha Lp has 0.05% invested in Air Transport Services Group Inc. (NASDAQ:ATSG) for 20,048 shares.
Insider Transactions: Since August 26, 2016, the stock had 0 buys, and 5 sales for $1.80 million net activity. On Friday, August 26 Templeton Brady Thomas sold $44,160 worth of the stock or 3,000 shares. 30,000 shares with value of $483,422 were sold by TURNER QUINT O on Tuesday, November 15. 20,000 Air Transport Services Group Inc. (NASDAQ:ATSG) shares with value of $328,046 were sold by PAYNE W JOSEPH. Another trade for 8,100 shares valued at $128,787 was made by VORHOLT JEFFREY J on Thursday, November 10. HETE JOSEPH C sold $812,000 worth of stock.
More recent Air Transport Services Group Inc. (NASDAQ:ATSG) news were published by: Marketwatch.com which released: “Amazon reaches air cargo to serve customers across the US” on March 09, 2016. Also Fortune.com published the news titled: “Amazon Steps Up Its Air Delivery Game” on March 19, 2016. Seekingalpha.com‘s news article titled: “Air Transport Services Group’s (ATSG) CEO Joe Hete on Q2 2016 Results …” with publication date: August 09, 2016 was also an interesting one.
ATSG Company Profile
Air Transport Services Group, Inc. (ATSG), incorporated on October 5, 2007, is a holding company. The Firm provides airline operations, aircraft leases, aircraft maintenance and other support services primarily to the cargo transportation and package delivery industries. Through the Company’s subsidiaries, it offers a range of complementary services to delivery companies, freight forwarders, airlines and government customers. ATSG’s leasing subsidiary, Cargo Aircraft Management, Inc. (CAM) leases cargo aircraft to ATSG’s airlines, as well as to non-affiliated airlines and other lessees. Airborne Global Solutions, Inc. (AGS) is its subsidiary that assists the Company’s businesses in marketing plans and provides sales leads to its subsidiaries by identifying customers’ business and operational requirements. The Company’s other business include aircraft maintenance and modification services, aircraft part sales and brokerage, equipment leasing and maintenance, and mail and package sorting, and flight support.
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