Big changes are happening at Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW), which makes the stock worth watching today. The company is among the top gainers of the stock market today, skyrocketing 5.17% or (2.12 points) to $43.15 from its previous close of $41.03. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 108195 contracts so far this session. AAWW shares had a relatively better volume day versus average trading capacity of 282.85 thousand shares, but with a 25.32 million float and a -1.44% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AAWW stock indicates that the average analyst price target is $68 per share. This means the stock has a potential increase of 57.59% from where the AAWW share price has been trading recently which is between $40.31 and $41.47. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $39.
The shorts are climbing into Atlas Air Worldwide Holdings, Inc. (AAWW) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in AAWW shares. While short interest still represents only 7.32% of AAWW’s float, the number of shares shorted have risen by 79386. The number of shares shorted advanced to 1933824 shares, up from 1854438 shares during the preceding fortnight. With average daily trading volumes at 278338 shares, days to cover increased to about 6.197325 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Panel Upholds District Court Decision Blocking Pilot Efforts To Slow Atlas Air’s Operations” and dated July 10, 2019.
During the recent trading session for Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW), the company witnessed their stock rise $0.89 over a week and surge $1.11 from the price 20 days ago. When compared to their established 52-week high of $71.45, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/13/18. The recent low of $35.04 stood for a -39.61% since 05/31/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.03 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Atlas Air Worldwide Holdings, Inc., the two-week RSI stands at 56.12. This figure suggests that AAWW stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current AAWW readings is similarly very revealing as it has a stochastic reading of 43.22% at this stage. This figure means that AAWW share price today is being neutral.
Technical chart claims that Atlas Air Worldwide Holdings, Inc. (AAWW) would settle between $41.56/share to $42.1/share level. However, if the stock price goes below the $40.4 mark, then the market for Atlas Air Worldwide Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $39.78 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.28. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Imperial Capital lifted target price for shares of AAWW but were stick to Outperform recommendation for the stock in their opinion released on May 03. The price target has been raised from $79 to $65. Cowen analysts again handed out a Outperform recommendation to Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) stock but they lifted target price for the shares in a flash note issued to investors on May 02. The target price has been raised from $70 to $68. Analysts at Imperial Capital are sticking to their Outperform stance. However, on February 20, they lifted price target for these shares to $79 from $76.
AAWW equity has an average rating of 2, with the figure leaning towards a bullish end. 11 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 9 analysts rated Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, AAWW stock price is currently trading at 5.64X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.39 while for the average stock in the same group, the multiple is 0.61. Atlas Air Worldwide Holdings, Inc. current P/E ratio of 6.22 means it is trading at a discount against its industry’s 19.42. In the past 5 years, this ratio for the stock has been fluctuating between 4.41 and 141.95.
Atlas Air Worldwide Holdings, Inc. (AAWW)’s current-quarter revenues are projected to climb by nearly 8.28% to hit $721310, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 12.9% from $2.68 billion to a noteworthy $3.02 billion. At the other end of the current quarter income statement, Atlas Air Worldwide Holdings, Inc. is expected to see its adjusted earnings surge by roughly -67.43% to hit $0.57 per share. For the fiscal year, AAWW’s earnings are projected to climb by roughly 2.75% to hit $7.47 per share.