Zacks Investment Research upgraded shares of Atlas Air Worldwide (NASDAQ:AAWW) from a hold rating to a buy rating in a research report released on Wednesday. The firm currently has $62.00 price target on the transportation company’s stock.
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. “
Other equities research analysts have also recently issued reports about the stock. Deutsche Bank initiated coverage on shares of Atlas Air Worldwide in a research report on Tuesday, September 4th. They set a buy rating and a $76.00 price objective for the company. Susquehanna Bancshares set a $77.00 target price on shares of Atlas Air Worldwide and gave the stock a buy rating in a research note on Friday, August 3rd. TheStreet lowered shares of Atlas Air Worldwide from a b- rating to a c+ rating in a research note on Monday, October 29th. ValuEngine lowered shares of Atlas Air Worldwide from a buy rating to a hold rating in a research note on Monday, July 16th. Finally, Imperial Capital cut their target price on shares of Atlas Air Worldwide from $91.00 to $74.00 and set an outperform rating on the stock in a research note on Tuesday. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $72.67.
Shares of AAWW traded down $1.73 during trading hours on Wednesday, hitting $54.44. 190,793 shares of the stock were exchanged, compared to its average volume of 341,092. Atlas Air Worldwide has a fifty-two week low of $48.19 and a fifty-two week high of $75.29. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.23. The stock has a market cap of $1.46 billion, a PE ratio of 11.04 and a beta of 1.52.
Atlas Air Worldwide (NASDAQ:AAWW) last posted its quarterly earnings data on Thursday, November 1st. The transportation company reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.18. Atlas Air Worldwide had a net margin of 10.59% and a return on equity of 10.20%. The company had revenue of $656.61 million during the quarter, compared to analysts’ expectations of $664.70 million. During the same period in the prior year, the company posted $1.08 earnings per share. Atlas Air Worldwide’s revenue for the quarter was up 22.6% compared to the same quarter last year. Sell-side analysts anticipate that Atlas Air Worldwide will post 7.01 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its stake in Atlas Air Worldwide by 7.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 225,630 shares of the transportation company’s stock worth $16,178,000 after acquiring an additional 16,091 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Atlas Air Worldwide by 33.8% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 369,446 shares of the transportation company’s stock worth $23,552,000 after acquiring an additional 93,254 shares in the last quarter. Strs Ohio lifted its stake in shares of Atlas Air Worldwide by 14.3% in the third quarter. Strs Ohio now owns 80,000 shares of the transportation company’s stock valued at $5,100,000 after buying an additional 10,000 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Atlas Air Worldwide in the second quarter valued at $344,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Atlas Air Worldwide by 5.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 950,000 shares of the transportation company’s stock valued at $60,563,000 after buying an additional 50,000 shares in the last quarter.
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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