Long Position on AAWW @ $61.00 on 9/21/2020 (Momentum)

Atlas Air Worldwide Holdings, Inc. (AAWW) is the parent company of Atlas Air and Polar Air Cargo, which together operate the world's largest fleet of Boeing freighter aircraft.

AAWW is principally involved in the airport-to-airport air transportation of heavy freight cargo through its two operating subsidiary airlines, Atlas Air, Inc. and Polar Air Cargo, Inc.

AAWW, through its principal subsidiaries Atlas and Polar, offers scheduled air cargo service, cargo charters, military charters, and ACMI aircraft leasing in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis.

The Company reported 2nd Quarter June 2020 earnings of $4.71 per share on revenue of $825.3 million. The consensus earnings estimate was $2.07 per share on revenue of $769.1 million. Revenue grew 24.3% on a year-over-year basis.

The company said it expects third quarter revenue of nearly $800.0 million and 2020 revenue of just over $3.0 billion. The current consensus estimate is revenue of $729.9 million for the quarter ending September 30, 2020 and revenue of $2.94 billion for the year ending December 31, 2020.

Shares have formed a bullish "cup and handle" and are expected to move higher out of this formation.

Entry Point: $61.00

Trading Range: $14.97 to $63.00

Updates

9/30/2020 12:23:45 PM

AAWW closed at $62.17

Position closed on 9/30/2020 at price of $62.17 with a 1.92% gain in 9 days.

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