Air transport services (ATSG) increased by 5.1%: will this strength last?

AShares of ir Transport Services (ATSG) ended the last trading session up 5.1% at $34.15. The jump occurred on impressive volume with an above average number of stocks changing hands during the session. That compares to the stock’s 17.6% gain over the past four weeks.

Air Transport Services Group is well served by increased demand for mid-size freighters. Driven by strength in its cargo leasing and airline businesses, ATSG expects adjusted EPS for 2022 to be $2, indicating 20% ​​growth from the reported 2021 level. In fact, ATSG stocks have performed well so far this year, gaining 16.2% year-to-date,

This air cargo company is expected to post quarterly earnings of $0.42 per share in its next report, representing a year-over-year change of +121.1%. Revenue is expected to be $455.05 million, up 21% from the prior year quarter.

While earnings and revenue growth expectations are important in gauging a stock’s potential strength, empirical research shows a strong correlation between trends in earnings estimate revisions and short-term stock price movements. term.

For air transport services, the consensus EPS estimate for the quarter was revised upwards by 9.1% in the past 30 days from the current level. And a positive trend in the revision of earnings estimates usually results in price appreciation. So be sure to keep an eye on the ATSG to see if that recent jump can turn into more strength down the road.

The stock currently carries a Zacks rank of No. 2 (buy). You can see the full list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>

Air transportation services belong to the Zacks Transportation – Air Freight and Freight industry. Another stock in the same sector, Atlas Air Worldwide (AAWW), closed the last trading session up 2% at $88.36. Over the past month, AAWW has returned 14.9%.

For Atlas Air, the consensus EPS estimate for the upcoming report changed -1% over the past month to $2.46. This represents a +0.4% change from what the company reported a year ago. Atlas Air currently has a Zacks rank of #3 (Hold).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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