Price Action Alert: Does Air Transport Services Group Inc. Have More Gas After Achieving 52-Week High?

Price Action Alert: Does Air Transport Services Group Inc. Have More Gas After Achieving 52 Week High?

The stock of Air Transport Services Group Inc. (NASDAQ:ATSG) hit a new 52-week high and has $23.82 target or 53.00% above today’s $15.57 share price. The 9 months bullish chart indicates low risk for the $928.88M company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $23.82 price target is reached, the company will be worth $492.31M 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 290,036 shares traded hands or 38.68% up from the average. Air Transport Services Group Inc. (NASDAQ:ATSG) has declined 2.15% since April 5, 2016 and is downtrending. It has underperformed by 4.11% 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. Air Transport Services Group has been the topic of 4 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by Cowen & Co on Wednesday, February 10. The stock of Air Transport Services Group Inc. (NASDAQ:ATSG) earned “Hold” rating by Stifel Nicolaus on Friday, August 26. Imperial Capital maintained it with “Outperform” rating and $14 target price in Sunday, August 9 report.

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 0.97 in Q2 2016. Its down 0.63, from 1.6 in 2016Q1. The ratio turned negative, 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.
Moreover, Blackrock Invest Mngmt Limited Liability Corporation has 0% invested in Air Transport Services Group Inc. (NASDAQ:ATSG) for 220,720 shares. Prudential Financial holds 0% or 182,916 shares in its portfolio. 1492 Capital Management Lc holds 2.11% of its portfolio in Air Transport Services Group Inc. (NASDAQ:ATSG) for 181,514 shares. Diam Limited reported 19,300 shares or 0% of all its holdings. Sei Invests, a Pennsylvania-based fund reported 33,635 shares. Lonestar Mngmt Lc accumulated 1.06% or 300,000 shares. Commercial Bank Of New York Mellon accumulated 290,320 shares or 0% of the stock. Geode Mgmt Ltd Limited Liability Company owns 408,492 shares or 0% of their US portfolio. Credit Suisse Ag last reported 75,325 shares in the company. Cortina Asset Management Ltd Liability Company has 436,573 shares for 0.26% of their US portfolio. Palisade Cap Management Ltd Llc Nj has 0.06% invested in the company for 123,000 shares. Tower Research Capital Limited Liability (Trc) has 0% invested in the company for 1,173 shares. Wells Fargo & Mn accumulated 49,403 shares or 0% of the stock. Victory Capital Mngmt has 0% invested in the company for 5,964 shares. The Massachusetts-based Boston Prtnrs has invested 0.01% in Air Transport Services Group Inc. (NASDAQ:ATSG).

Insider Transactions: Since August 26, 2016, the stock had 0 insider buys, and 1 insider sale for $44,160 net activity. 3,000 Air Transport Services Group Inc. (NASDAQ:ATSG) shares with value of $44,160 were sold by Templeton Brady Thomas.

Another recent and important Air Transport Services Group Inc. (NASDAQ:ATSG) news was published by Marketwatch.com which published an article titled: “Amazon reaches air cargo to serve customers across the US” on March 09, 2016.

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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