Zacks Investment Research lowered shares of Atlas Air Worldwide (NASDAQ:AAWW) from a buy rating to a hold rating in a research report released on Tuesday morning.
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 analysts also recently issued research reports about the company. BidaskClub downgraded Atlas Air Worldwide from a hold rating to a sell rating in a report on Tuesday, July 17th. Susquehanna Bancshares set a $77.00 target price on Atlas Air Worldwide and gave the company a buy rating in a report on Friday, August 3rd. ValuEngine downgraded Atlas Air Worldwide from a buy rating to a hold rating in a report on Monday, July 16th. Imperial Capital dropped their target price on Atlas Air Worldwide from $91.00 to $74.00 and set an outperform rating on the stock in a report on Tuesday. They noted that the move was a valuation call. Finally, Deutsche Bank began coverage on Atlas Air Worldwide in a report on Tuesday, September 4th. They issued a buy rating and a $76.00 target price on the stock. Three investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $72.67.
Atlas Air Worldwide (NASDAQ:AAWW) last issued its earnings results on Thursday, November 1st. The transportation company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.18. The company had revenue of $656.61 million for the quarter, compared to the consensus estimate of $664.70 million. Atlas Air Worldwide had a return on equity of 10.20% and a net margin of 10.59%. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 EPS. On average, sell-side analysts expect that Atlas Air Worldwide will post 7.01 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in AAWW. Hood River Capital Management LLC bought a new stake in shares of Atlas Air Worldwide in the 2nd quarter valued at approximately $27,059,000. Atwood & Palmer Inc. bought a new stake in shares of Atlas Air Worldwide in the 2nd quarter valued at approximately $13,880,000. Emerald Mutual Fund Advisers Trust grew its stake in shares of Atlas Air Worldwide by 33.8% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 369,446 shares of the transportation company’s stock valued at $23,552,000 after buying an additional 93,254 shares in the last quarter. LSV Asset Management grew its stake in shares of Atlas Air Worldwide by 7.7% in the 3rd quarter. LSV Asset Management now owns 1,041,783 shares of the transportation company’s stock valued at $66,413,000 after buying an additional 74,900 shares in the last quarter. Finally, Towle & Co. grew its stake in shares of Atlas Air Worldwide by 9.5% in the 2nd quarter. Towle & Co. now owns 831,690 shares of the transportation company’s stock valued at $59,632,000 after buying an additional 72,320 shares in the last quarter.
Atlas Air Worldwide Company Profile
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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