ATSG Price Prediction Next Week
Analysis and Insights
News Sentiment and Recent Developments:
- Lobbying Disclosure: ABX Air Inc. disclosed $20,000 in lobbying efforts related to FAA reauthorization and transportation appropriations, indicating potential regulatory focus but minimal financial impact.
- Institutional Activity: 79 institutional investors increased their holdings in ATSG stock, while 74 reduced theirs, signaling mixed sentiment among large shareholders.
- Aviation Industry Recovery: The industry is recovering, with air travel expected to reach 5 billion passengers by 2024 and revenues projected to exceed $1 trillion by 2025. ATSG has shown strong performance, with a 32% stock increase in 2024 and a recent acquisition agreement for $3.1 billion.
Technical Analysis:
The stock is currently trading at $22.44, with the following key technical indicators:
- RSI: 85.76 (6-period), 75.54 (12-period), and 73.70 (14-period), indicating overbought conditions.
- MACD: A slight positive signal line crossover, suggesting potential bullish momentum but with limited strength.
- Fibonacci Levels: Resistance at $22.42 and $22.45, with support at $22.31 and $22.28.
Price Prediction and Recommendation:
Given the overbought RSI and mixed institutional sentiment, ATSG is likely to face resistance at $22.45 next week. The stock may consolidate or slightly decline, with a potential price range of $22.30 to $22.50.
Prediction: The stock price is expected to trade between $22.30 and $22.50 next week, with a potential high of $22.45 and a low of $22.30.
Recommendation: Consider selling at the current level or waiting for a dip before entering a long position.
ATSG Similar Chart Price Prediction
The price of ATSG is predicted to go up -3%, based on the high correlation periods with ICUI. The similarity of these two price pattern on the periods is 92.15%.
ATSG
ICUI
Down: -3%Similarity: 92.15%
ATSG Revenue Forecast
ATSG EPS Forecast
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ATSG Analyst's Forecast
Michael Ciarmoli
Truist Securities
Hold
2024-11-05
Price Target
$15 → $23
Upside
+2.2%
Truist analyst Michael Ciarmoli raised the firm's price target on Air Transport Services to $22.50 from $15 and keeps a Hold rating on the shares after the company announced its entry into an acquisition agreement with Stonepeak for $22.50 per share. The deal's implied take-out multiple offered by Stonepeak represents a 20% discount to peers, but this is likely warranted given recent operating performance, pilot union contract unknowns, and increased exposure to older freighter platforms compared to newer passenger variant aircraft, the analyst tells investors in a research note.
Rick Paterson
Loop Capital
Strong Buy → Hold
2024-11-05
Price Target
$22 → $23
Upside
+2.2%
