Air Transport Services Group (Nasdaq: ATSG) Higher After Lowering Guidance

Air Transport Services Group, Inc. – Nasdaq: ATSG

Shares of Wilmington, OH-based Air Transport Services Group are over 9% higher a day after the air transport company lowered guidance for the 4th quarter and all of 2016 due to a work stoppage by the pilots of a subsidiary. ATSG, traded on the Nasdaq, gapped lower to open at $15.14 but rose to $17.04 as of this writing.

ATSG is a provider of aircraft leasing and air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. ATSG, through its leasing and airline subsidiaries, is the world’s largest owner and operator of converted Boeing 767 freighter aircraft. Through its principal subsidiaries, including two airlines with separate and distinct U.S. FAA Part 121 Air Carrier certificates, ATSG provides aircraft leasing, air cargo lift, aircraft maintenance services and airport ground services.

In 2015 EPS for ATSG was $0.61 on sales of $619.3 million. Three firms follow ATSG. Two rate the shares as a “Strong Buy” and one rates ATSG as a “Hold”. Their consensus price target is $18.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.