Air Transport Services Group (ATSG) was Initiated by Seaport Global Securities to “Buy” and the brokerage firm has set the Price Target at $20. Seaport Global Securities advised their investors in a research report released on Nov 29, 2016.
On the company’s financial health, Air Transport Services Group reported $0.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Nov 3, 2016. Analyst had a consensus of $0.15. The company had revenue of $193.26 million for the quarter, compared to analysts expectations of $176.43 million. The company’s revenue was up 35.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.
Air Transport Services Group opened for trading at $16.33 and hit $16.63 on the upside on Friday, eventually ending the session at $16.51, with a gain of 1.85% or 0.3 points. The heightened volatility saw the trading volume jump to 1,64,763 shares. Company has a market cap of $983 M.
In a different news, on Nov 21, 2016, John Matthew Starkovich (Subsidiary President, ABX Air) sold 12,000 shares at $16.38 per share price. According to the SEC, on Nov 16, 2016, Quint O Turner (Chief Financial Officer) sold 30,000 shares at $16.12 per share price. On Nov 15, 2016, W Joseph Payne (Chief Legal Officer & Sec.) sold 20,000 shares at $16.40 per share price, according to the Form-4 filing with the securities and exchange commission.
Air Transport Services Group Inc. (ATSG) is a holding company. Through its subsidiaries the Company provides aircraft leasing airline operations aircraft maintenance and other support services to the air cargo transportation and package delivery industries. The Company offers a range of services to delivery companies freight forwarders airlines and Government customers. ATSG’s leasing subsidiary Cargo Aircraft Management Inc. which leases cargo aircraft to ATSG’s airlines and to external customers. Airborne Global Solutions Inc. that assists its businesses in marketing plans and provides sales leads to its subsidiaries by identifying customers’ business and operational requirements. Its other business operations including aircraft maintenance and modification services aircraft part sales equipment leasing and maintenance and mail handling for the United States Postal Service. Its principal subsidiaries include ABX Air Inc. and Air Transport International Inc.