In a time when it seems that almost any stock has gone up, Air Transport Group's (NASDAQ:ATSG) 13% decline since my last write-up is particularly disappointing. I continue to believe that this is a well-run air cargo company with meaningful opportunities to improve EBITDA and cash flow, but management must convert "opportunity" to results for this stock to perform better. A couple of recent developments should encourage bulls, and the stock remains at a valuation where I think a closer look is warranted.
Weak Air Cargo Casting A Shadow
Air Transport, like its larger rival Atlas Air Worldwide (NASDAQ:AAWW) has had a pretty miserable start to the year, with both stocks down more than 20%....
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