Raymond James Financial, Inc. upgraded shares of Alaska Air Group, Inc. (NYSE:ALK) from an outperform rating to a strong-buy rating in a report published on Wednesday morning, MarketBeat Ratings reports. Raymond James Financial, Inc. currently has $80.00 price objective on the transportation company’s stock, down from their prior price objective of $85.00.
Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus restated a buy rating and issued a $125.00 target price on shares of Alaska Air Group in a report on Saturday, September 23rd. ValuEngine cut shares of Alaska Air Group from a strong-buy rating to a buy rating in a report on Friday, September 1st. Barclays PLC restated a buy rating on shares of Alaska Air Group in a report on Thursday, September 14th. Cowen and Company restated a buy rating and issued a $103.00 target price on shares of Alaska Air Group in a report on Tuesday, September 12th. Finally, Bank of America Corporation cut their target price on shares of Alaska Air Group from $100.00 to $96.00 and set a buy rating on the stock in a report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. Alaska Air Group presently has an average rating of Buy and a consensus target price of $90.53.
Alaska Air Group (ALK) opened at $66.40 on Wednesday. Alaska Air Group has a 52-week low of $61.10 and a 52-week high of $101.43. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 0.80. The company has a market cap of $8,100.00, a P/E ratio of 8.38 and a beta of 1.01.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Tuesday, November 21st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Monday, November 20th. Alaska Air Group’s payout ratio is 19.23%.
A number of hedge funds have recently made changes to their positions in the stock. Mountain Capital Investment Advisors Inc purchased a new position in Alaska Air Group during the second quarter valued at $122,000. Mercer Capital Advisers Inc. purchased a new position in Alaska Air Group during the third quarter valued at $116,000. Bessemer Group Inc. lifted its position in Alaska Air Group by 57.9% during the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after buying an additional 695 shares during the period. Bank of Nova Scotia Trust Co. purchased a new position in Alaska Air Group during the third quarter valued at $153,000. Finally, Rehmann Capital Advisory Group purchased a new position in Alaska Air Group during the second quarter valued at $201,000. 89.33% of the stock is owned by institutional investors.
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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