Alaska Air Group (ALK) Upgraded by ValuEngine to “Buy”

Alaska Air Group (NYSE:ALK) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other analysts have also weighed in on ALK. Barclays reissued a “buy” rating on shares of Alaska Air Group in a research report on Thursday, September 14th. Morgan Stanley reduced their price objective on shares of Alaska Air Group from $101.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, August 17th. Cowen reduced their price objective on shares of Alaska Air Group from $100.00 to $89.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. BidaskClub lowered shares of Alaska Air Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Finally, Buckingham Research reduced their target price on shares of Alaska Air Group from $98.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $91.27.

Alaska Air Group (ALK) traded down $2.26 during trading on Friday, reaching $66.91. 2,765,264 shares of the company were exchanged, compared to its average volume of 1,480,077. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78. Alaska Air Group has a 12 month low of $61.10 and a 12 month high of $101.43. The stock has a market cap of $8,230.00, a price-to-earnings ratio of 9.14 and a beta of 1.01.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, October 25th. The transportation company reported $2.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.26 by ($0.02). Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company earned $2.20 earnings per share. The business’s revenue for the quarter was up 35.4% compared to the same quarter last year. equities analysts predict that Alaska Air Group will post 6.77 EPS for the current year.

In other news, EVP Andrew R. Harrison sold 540 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $65.53, for a total transaction of $35,386.20. Following the transaction, the executive vice president now directly owns 20,788 shares of the company’s stock, valued at $1,362,237.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

Several large investors have recently modified their holdings of the company. Shelton Capital Management boosted its stake in shares of Alaska Air Group by 38.0% during the third quarter. Shelton Capital Management now owns 53,763 shares of the transportation company’s stock valued at $4,101,000 after purchasing an additional 14,800 shares in the last quarter. Hartline Investment Corp boosted its stake in shares of Alaska Air Group by 21.2% during the third quarter. Hartline Investment Corp now owns 32,059 shares of the transportation company’s stock valued at $2,445,000 after purchasing an additional 5,599 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Alaska Air Group by 103.8% during the third quarter. GSA Capital Partners LLP now owns 8,610 shares of the transportation company’s stock valued at $657,000 after purchasing an additional 4,386 shares in the last quarter. Cypress Capital Group bought a new position in shares of Alaska Air Group during the third quarter valued at approximately $351,000. Finally, Dana Investment Advisors Inc. boosted its stake in shares of Alaska Air Group by 9.8% during the third quarter. Dana Investment Advisors Inc. now owns 356,487 shares of the transportation company’s stock valued at $27,189,000 after purchasing an additional 31,717 shares in the last quarter. 88.23% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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