Zacks Investment Research cut shares of Atlas Air Worldwide (NASDAQ:AAWW) from a buy rating to a hold rating in a research report sent to investors on Tuesday.
According to Zacks, “Atlas Air Worldwide Holdings, Inc. is the parent company of Atlas Air and Polar Air Cargo, which together operate the world’s largest fleet of Boeing freighter aircraft. AAWW is principally involved in the airport-to-airport air transportation of heavy freight cargo through its two operating subsidiary airlines, Atlas Air, Inc. and Polar Air Cargo, IncAAWW, through its principal subsidiaries Atlas and Polar, offers scheduled air cargo service, cargo charters, military charters, and ACMI aircraft leasing in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis. “
A number of other brokerages have also weighed in on AAWW. BidaskClub lowered Atlas Air Worldwide from a hold rating to a sell rating in a research note on Tuesday, July 17th. ValuEngine lowered Atlas Air Worldwide from a buy rating to a hold rating in a research note on Monday, July 16th. Susquehanna Bancshares set a $77.00 target price on Atlas Air Worldwide and gave the company a buy rating in a research note on Friday, August 3rd. Wolfe Research lowered Atlas Air Worldwide from a peer perform rating to an underperform rating in a research note on Friday, October 5th. Finally, Deutsche Bank started coverage on Atlas Air Worldwide in a report on Tuesday, September 4th. They issued a buy rating and a $76.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $74.83.
Shares of NASDAQ:AAWW opened at $56.10 on Tuesday. Atlas Air Worldwide has a twelve month low of $48.19 and a twelve month high of $75.29. The firm has a market capitalization of $1.41 billion, a PE ratio of 11.38 and a beta of 1.52. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.73 and a quick ratio of 0.73.
Atlas Air Worldwide (NASDAQ:AAWW) last announced its earnings results on Thursday, November 1st. The transportation company reported $1.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.18. Atlas Air Worldwide had a return on equity of 10.20% and a net margin of 10.59%. The company had revenue of $656.61 million during the quarter, compared to analyst estimates of $664.70 million. During the same period last year, the company posted $1.08 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. Equities analysts anticipate that Atlas Air Worldwide will post 6.91 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of AAWW. Legal & General Group Plc boosted its holdings in Atlas Air Worldwide by 6.7% in the first quarter. Legal & General Group Plc now owns 48,543 shares of the transportation company’s stock valued at $2,912,000 after acquiring an additional 3,059 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Atlas Air Worldwide by 3.0% in the first quarter. Principal Financial Group Inc. now owns 194,955 shares of the transportation company’s stock valued at $11,785,000 after acquiring an additional 5,761 shares during the last quarter. Bank of Montreal Can boosted its holdings in Atlas Air Worldwide by 3.0% in the second quarter. Bank of Montreal Can now owns 56,738 shares of the transportation company’s stock valued at $4,067,000 after acquiring an additional 1,668 shares during the last quarter. Sit Investment Associates Inc. boosted its holdings in Atlas Air Worldwide by 20.9% in the second quarter. Sit Investment Associates Inc. now owns 16,275 shares of the transportation company’s stock valued at $1,167,000 after acquiring an additional 2,815 shares during the last quarter. Finally, Atwood & Palmer Inc. bought a new position in Atlas Air Worldwide in the second quarter valued at about $13,880,000.
About Atlas Air Worldwide
Atlas Air Worldwide Holdings, Inc, through its subsidiaries, provides outsourced aircraft and aviation operating services worldwide. It operates through three segments: ACMI, Charter, and Dry Leasing. The company offers outsourced cargo and passenger aircraft operating solutions comprising contractual service arrangements, which include the provision of aircraft; and value-added services, such as crew, maintenance, and insurance to aircraft and other customers.
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