Alaska Air Group, Inc. (NYSE:ALK) has been given an average recommendation of “Buy” by the fourteen ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $104.72.
Several research analysts recently commented on ALK shares. Cowen and Company reissued an “outperform” rating and set a $103.00 target price on shares of Alaska Air Group in a research note on Tuesday, June 20th. BidaskClub cut Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Bank of America Corporation upped their price objective on Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Tuesday, July 4th. Finally, Morgan Stanley lowered their price objective on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Monday, July 17th.
In other news, Chairman Bradley D. Tilden sold 2,400 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total value of $205,992.00. Following the completion of the sale, the chairman now directly owns 140,346 shares of the company’s stock, valued at approximately $12,045,897.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew R. Harrison sold 2,350 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $86.03, for a total value of $202,170.50. Following the completion of the sale, the executive vice president now directly owns 21,328 shares of the company’s stock, valued at $1,834,847.84. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Alaska Air Group in the 2nd quarter valued at about $122,000. Bessemer Group Inc. raised its stake in Alaska Air Group by 57.9% during the 2nd quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after acquiring an additional 695 shares during the last quarter. Twin Tree Management LP purchased a new stake in Alaska Air Group during the 1st quarter valued at approximately $179,000. Rehmann Capital Advisory Group purchased a new stake in Alaska Air Group during the 2nd quarter valued at approximately $201,000. Finally, Verity Asset Management Inc. purchased a new stake in Alaska Air Group during the 1st quarter valued at approximately $218,000. 87.77% of the stock is owned by institutional investors and hedge funds.
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Alaska Air Group (NYSE ALK) traded down 1.37% during midday trading on Friday, reaching $80.40. The company’s stock had a trading volume of 2,528,160 shares. The firm has a market capitalization of $9.93 billion, a PE ratio of 13.08 and a beta of 0.99. Alaska Air Group has a 1-year low of $69.11 and a 1-year high of $101.43. The stock’s 50-day moving average price is $75.87 and its 200 day moving average price is $84.80.
Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by ($0.01). Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the firm earned $2.12 earnings per share. The company’s revenue for the quarter was up 40.7% compared to the same quarter last year. Equities analysts anticipate that Alaska Air Group will post $7.49 EPS for the current fiscal year.
Alaska Air Group Company Profile
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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