Atlas Air Worldwide (NASDAQ:AAWW) Downgraded to Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of Atlas Air Worldwide (NASDAQ:AAWW) from a hold rating to a sell rating in a research report sent to investors on Friday morning, Zacks.com reports.

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. “

A number of other equities research analysts have also recently weighed in on AAWW. Imperial Capital reaffirmed an in-line rating and issued a $29.00 price objective (down from $33.00) on shares of Whiting Petroleum in a research note on Friday, May 3rd. BidaskClub raised ZIOPHARM Oncology from a buy rating to a strong-buy rating in a research note on Monday, June 17th. ValuEngine cut Zagg from a sell rating to a strong sell rating in a research note on Thursday, March 14th. Finally, Cowen reaffirmed a hold rating on shares of PTC Therapeutics in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Atlas Air Worldwide currently has a consensus rating of Hold and a consensus price target of $67.67.

NASDAQ:AAWW opened at $42.34 on Friday. Atlas Air Worldwide has a 52 week low of $35.04 and a 52 week high of $71.20. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $1.11 billion, a P/E ratio of 5.80 and a beta of 2.05. The company has a fifty day simple moving average of $40.80.

Atlas Air Worldwide (NASDAQ:AAWW) last posted its earnings results on Wednesday, May 1st. The transportation company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.12. Atlas Air Worldwide had a return on equity of 10.76% and a net margin of 8.36%. The company had revenue of $679.70 million for the quarter, compared to the consensus estimate of $679.72 million. During the same quarter in the previous year, the business earned $0.86 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Equities analysts expect that Atlas Air Worldwide will post 7.47 EPS for the current year.

In other news, Director John K. Wulff acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average cost of $39.75 per share, with a total value of $198,750.00. Following the completion of the purchase, the director now owns 24,979 shares of the company’s stock, valued at approximately $992,915.25. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Spencer Schwartz sold 6,500 shares of Atlas Air Worldwide stock in a transaction on Friday, June 28th. The shares were sold at an average price of $44.08, for a total value of $286,520.00. Following the completion of the sale, the chief financial officer now directly owns 54,741 shares of the company’s stock, valued at $2,412,983.28. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management grew its stake in Atlas Air Worldwide by 5.3% during the 1st quarter. LSV Asset Management now owns 1,147,506 shares of the transportation company’s stock worth $58,017,000 after purchasing an additional 58,000 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in Atlas Air Worldwide by 1.8% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,120,000 shares of the transportation company’s stock worth $56,627,000 after purchasing an additional 20,000 shares in the last quarter. Geode Capital Management LLC grew its stake in Atlas Air Worldwide by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 279,969 shares of the transportation company’s stock worth $11,811,000 after purchasing an additional 12,634 shares in the last quarter. Phocas Financial Corp. grew its stake in Atlas Air Worldwide by 36.3% during the 1st quarter. Phocas Financial Corp. now owns 222,218 shares of the transportation company’s stock worth $11,235,000 after purchasing an additional 59,240 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Atlas Air Worldwide by 16.7% during the 1st quarter. Marshall Wace LLP now owns 220,914 shares of the transportation company’s stock worth $11,168,000 after purchasing an additional 31,533 shares in the last quarter.

About Atlas Air Worldwide

Atlas Air Worldwide Holdings, Inc, through its subsidiaries, provides outsourced aircraft and aviation operating services. It operates through three segments: ACMI, Charter, and Dry Leasing. The company offers outsourced cargo and passenger aircraft operating solutions, including contractual service arrangements, such as the provision of aircraft; and value-added services, including crew, maintenance, and insurance to aircraft and other customers.

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