Atlas Air Worldwide (NASDAQ:AAWW – Get Note) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released Wednesday, Zacks.com reports. The brokerage currently has a price target of $82.00 on shares of the shipping company. Zacks Investment Research’s price target would suggest a potential upside of 17.70% from the company’s previous close.
According to Zacks, “Atlas Air Worldwide Holdings, Inc. is the parent company of Atlas Air and Polar Air Cargo, which together operate the largest fleet of Boeing cargo aircraft in the world. AAWW is primarily involved in airport-to-airport air transportation of heavy 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 lease basis long-term. “
A number of other research analysts have also weighed in on AAWW. Wolfe Research downgraded Atlas Air Worldwide from a “peer performing” rating to an “underperforming” rating and set a target price of $73.00 for the company. in a report on Tuesday, April 5. StockNews.com downgraded shares of Atlas Air Worldwide from a “buy” rating to a “hold” rating in a report on Friday, April 8. One research analyst has assigned the stock a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has assigned the company’s stock a strong buy rating. According to MarketBeat, Atlas Air Worldwide has an average rating of “Buy” and a consensus price target of $77.50.
The NASDAQ AAWW traded at $1.37 during trading hours on Wednesday, hitting $69.67. The company’s stock had a trading volume of 17,641 shares, compared to an average volume of 740,913. The stock has a market capitalization of $2.02 billion, a P/E ratio of 4.38 and a beta of 1.17. The company has a fifty-day simple moving average of $79.04 and a 200-day simple moving average of $83.06. 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 has a 52-week low of $62.13 and a 52-week high of $97.13.
Atlas Air Worldwide (NASDAQ:AAWW – Get Rating) last reported quarterly earnings data on Thursday, February 17. The transportation company reported EPS of $7.05 for the quarter, beating the consensus estimate of $6.11 by $0.94. Atlas Air Worldwide achieved a net margin of 12.24% and a return on equity of 21.37%. The company posted revenue of $1.16 billion in the quarter, versus a consensus estimate of $1.10 billion. During the same quarter last year, the company posted EPS of $4.83. The company’s quarterly revenue increased 24.7% year over year. On average, research analysts expect Atlas Air Worldwide to post earnings per share of 14.06 for the current year.
Atlas Air Worldwide said its board of directors approved a stock repurchase program on Thursday, Feb. 17 that allows the company to repurchase $200.00 million in stock. This repurchase authorization authorizes the transport company to repurchase up to 8.8% of its shares through purchases on the open market. Stock buyback programs usually indicate that the management of the company believes that its shares are undervalued.
In a similar vein, Executive Vice President Adam Richard Kokas sold 9,975 shares of the company in a trade that took place on Monday, March 21. The shares were sold at an average price of $88.45, for a total value of $882,288.75. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. 1.70% of the shares are held by insiders.
Major investors have recently changed their positions in the company. Bank of New Hampshire bought a new stake in Atlas Air Worldwide stock in the first quarter worth about $25,000. Exane Derivatives acquired a new stake in Atlas Air Worldwide in the 4th quarter for a value of $45,000. Byrne Asset Management LLC purchased a new stake in shares of Atlas Air Worldwide in Q4, valued at approximately $69,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Atlas Air Worldwide shares by 158.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,021 shares of the transportation company valued at $96,000 after acquiring an additional 626 shares during the period. Finally, USA Financial Portformulas Corp bought a new stake in Atlas Air Worldwide stock in Q4, valued at around $131,000.
Atlas Air Worldwide Company Profile (Get an assessment)
Atlas Air Worldwide Holdings, Inc, through its subsidiaries, provides outsourced aircraft operations and aviation services. It operates through two segments, Airline Operations and Dry Leasing. The company offers outsourced cargo and passenger aircraft operations solutions, including contractual service agreements, such as aircraft supply; and value-added services, including crew, maintenance and insurance to aircraft and other customers.
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