Air T (NASDAQ:AIRT) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Air T to a “sell” rating, while Weiss Ratings raised its assessment from “hold (c-)” to “hold (c).” The stock’s overall analyst consensus remains “Hold.”
• Air T shares opened at $31.00, near their 52-week high of $35.00, with a market capitalization of $83.08 million and a price-to-earnings ratio of 1.31.
• The company reported quarterly revenue of $115.46 million but a loss of $5.86 per share. BlackRock also initiated a 4,583-share position, while institutional investors collectively own 8.90% of Air T.

Air T (NASDAQ:AIRT - Get Free Report) was upgraded by stock analysts at Wall Street Zen to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Air T from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold".

Air T Price Performance

Shares of NASDAQ:AIRT opened at $31.00 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.61 and a debt-to-equity ratio of 3.55. The stock's fifty day simple moving average is $29.68 and its two-hundred day simple moving average is $25.03. Air T has a 1-year low of $18.35 and a 1-year high of $35.00. The stock has a market cap of $83.08 million, a PE ratio of 1.31 and a beta of 0.27.

Air T (NASDAQ:AIRT - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The transportation company reported ($5.86) earnings per share for the quarter. Air T had a return on equity of 176.42% and a net margin of 17.17%.The business had revenue of $115.46 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Air T stock. BlackRock Inc. bought a new position in Air T, Inc. (NASDAQ:AIRT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,583 shares of the transportation company's stock, valued at approximately $121,000. BlackRock Inc. owned about 0.17% of Air T at the end of the most recent reporting period. Institutional investors and hedge funds own 8.90% of the company's stock.

Air T Company Profile

Air T, Inc NASDAQ: AIRT is a diversified holding company focused on aviation and related services. Through its subsidiaries, the company provides overnight air cargo transportation, aircraft and ground support equipment, and aviation maintenance and support services.

Its air cargo operations are conducted primarily through Mountain Air Cargo, Inc, a contract carrier that transports express packages and other cargo for FedEx under long-term operating arrangements. Mountain Air Cargo serves domestic and regional markets using a fleet of turboprop aircraft.

Air T's equipment businesses design, manufacture, sell and service ground support equipment used by airports, airlines and other aviation customers.

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