Atlas Air Worldwide (NASDAQ:AAWW) upgraded on

Atlas Air Worldwide (NASDAQ:AAWW – Get Note) was upgraded by from a “hold” rating to a “buy” rating in a research report released Saturday.

Separately, Zacks Investment Research downgraded shares of Atlas Air Worldwide from a “strong buy” rating to a “hold” rating in a Monday, February 21 report. One equity research analyst gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat, the stock currently has a consensus buy rating and a consensus target price of $93.00.

NASDAQ: AAWW opened at $82.36 on Friday. Atlas Air Worldwide has a 1-year low of $53.36 and a 1-year high of $97.13. The company has a 50-day moving average of $82.08 and a 200-day moving average of $82.18. The company has a market capitalization of $2.39 billion, a PE ratio of 5.13 and a beta of 1.16. The company has a debt ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.93.

Atlas Air Worldwide (NASDAQ:AAWW – Get Rating) last released its quarterly results on Wednesday, February 16. The transportation company reported EPS of $7.05 for the quarter, beating Thomson Reuters consensus estimate of $6.14 by $0.91. The company posted revenue of $1.16 billion in the quarter, versus analyst estimates of $1.10 billion. Atlas Air Worldwide achieved a net margin of 12.24% and a return on equity of 21.37%. The company’s quarterly revenue increased 24.7% year over year. In the same period a year earlier, the company posted earnings per share of $4.83. Sell-side analysts expect Atlas Air Worldwide to post EPS of 14.06 for the current fiscal year.

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Atlas Air Worldwide announced that its board of directors approved a stock repurchase program on Thursday, February 17 that allows the company to repurchase $200.00 million of outstanding stock. This repurchase authorization allows the transport company to repurchase up to 8.8% of its shares through purchases on the open market. Stock buyback programs are usually a sign that the company’s board of directors believe its stock is undervalued.

In other news, CMO Michael Steen sold 6,688 shares in a trade that took place on Wednesday, January 12. The stock was sold at an average price of $87.50, for a total transaction of $585,200.00. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, director John K. Wulff sold 6,000 shares in a trade that took place on Tuesday, December 7. The shares were sold at an average price of $88.47, for a total value of $530,820.00. The disclosure of this sale can be found here. Insiders sold a total of 41,394 shares of the company worth $3,706,610 in the past ninety days. Company insiders own 1.70% of the company’s shares.

A number of hedge funds have recently changed their positions in AAWW. First Trust Advisors LP increased its stake in Atlas Air Worldwide by 20.0% in the 1st quarter. First Trust Advisors LP now owns 50,577 shares of the transportation company valued at $2,557,000 after buying 8,427 additional shares last quarter. LPL Financial LLC bought a new position in Atlas Air Worldwide in Q2 worth $287,000. Northern Trust Corp increased its stake in Atlas Air Worldwide by 1.8% in the second quarter. Northern Trust Corp now owns 312,283 shares of the transportation company valued at $21,271,000 after buying an additional 5,510 shares last quarter. Marshall Wace LLP bought a new position in Atlas Air Worldwide in Q2 worth $320,000. Finally, Nuveen Asset Management LLC increased its stake in Atlas Air Worldwide by 2.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 120,383 shares of the transportation company valued at $8,199,000 after buying 3,344 additional shares last quarter.

About Atlas Air Worldwide (Get a rating)

Atlas Air Worldwide Holdings, Inc engages in the provision of outsourced aircraft operations and aviation services. It operates through the following segments: ACMI, Charter and Dry Leasing. The ACMI segment offers aircraft, crew, maintenance and insurance services to customers. The Charter segment includes air cargo and passenger aircraft charters, including the United States

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