Stock Analysis Firm Initiates Coverage on Air T with a Hold Rating

Stock analysts at StockNews.com have recently launched coverage on Air T (NASDAQ:AIRT), assigning the transportation company's shares with a neutral 'hold' rating. This development was made public in a report issued on Thursday.

Market Performance of Air T

The trading price for Air T's shares commenced at $18.83 on Thursday. Regarding the company's financial health, Air T maintains a current ratio of 1.99 and a quick ratio of 0.79, with a relatively high debt-to-equity ratio of 10.49. The stock has fluctuated between a 50-day moving average of $16.60 and a 200-day moving average of $19.11, touching a 12-month low of $12.53, and peaking at a 12-month high of $28.62. The company's market cap stands at $53.14 million, with a P/E ratio at -3.79, and a beta of 0.73.

For its latest earnings, reported on February 12th, Air T saw a quarterly EPS of ($1.06), along with revenue generation of $63.76 million. The company also recorded a negative return on equity of 87.44% and a net margin deficit of 4.91%.

Institutional Interest in Air T

Several substantial investment changes have been noticed in the trading of Air T stock, primarily among institutional investors. Vanguard Group Inc. has increased its stake by 4.5%, now owning 53,347 shares valued around $913,000. Morgan Stanley, Dimensional Fund Advisors LP, UBS Group AG, and DCF Advisers LLC have also upped their respective investments within the recent quarters, signalling a growing institutional interest in the company.

Overview of Air T's Business

Air T Inc, with its subsidiaries, operates in segments including overnight air cargo, ground equipment sales, and commercial jet engines and parts, both domestically within the United States and on an international level. Its Overnight Air Cargo segment maintained 85 aircraft on dry-lease agreements with FedEx as of March 31, 2023.

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