Alaska Air Group, Inc. (ALK) Receives Average Recommendation of “Buy” from Brokerages

Alaska Air Group, Inc. (NYSE:ALK) has been assigned an average recommendation of “Buy” from the seventeen brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, eight have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $86.65.

A number of analysts recently commented on the company. Imperial Capital reiterated an “in-line” rating and set a $66.00 price objective (down previously from $70.00) on shares of Alaska Air Group in a research report on Thursday, February 1st. Buckingham Research reduced their price objective on Alaska Air Group from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Friday, January 26th. JPMorgan Chase & Co. lowered Alaska Air Group from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $65.48 to $67.00 in a report on Tuesday, January 30th. Cowen reissued an “outperform” rating and set a $84.00 price target (down previously from $93.00) on shares of Alaska Air Group in a report on Friday, January 26th. Finally, Morgan Stanley cut their price target on Alaska Air Group from $86.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 26th.

Alaska Air Group (NYSE ALK) traded up $0.68 during trading on Friday, reaching $64.72. The company had a trading volume of 5,139,971 shares, compared to its average volume of 3,319,420. The stock has a market capitalization of $7,890.00, a PE ratio of 7.81, a PEG ratio of 3.31 and a beta of 0.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.78 and a current ratio of 0.79. Alaska Air Group has a 12 month low of $59.25 and a 12 month high of $101.43.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.83 EPS for the quarter, meeting analysts’ consensus estimates of $0.83. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Alaska Air Group had a return on equity of 24.40% and a net margin of 12.96%. Alaska Air Group’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.56 earnings per share. equities research analysts anticipate that Alaska Air Group will post 5.73 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Tuesday, February 20th will be paid a $0.32 dividend. This is a positive change from Alaska Air Group’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, February 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.98%. Alaska Air Group’s dividend payout ratio is 14.48%.

In other news, EVP Andrew R. Harrison sold 540 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $65.53, for a total value of $35,386.20. Following the completion of the transaction, the executive vice president now owns 20,788 shares of the company’s stock, valued at $1,362,237.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David L. Campbell sold 4,934 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $68.00, for a total value of $335,512.00. Following the completion of the transaction, the chief executive officer now directly owns 9,648 shares of the company’s stock, valued at approximately $656,064. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALK. Thrivent Financial For Lutherans boosted its stake in shares of Alaska Air Group by 3.1% in the second quarter. Thrivent Financial For Lutherans now owns 4,670 shares of the transportation company’s stock worth $419,000 after acquiring an additional 140 shares during the period. Stifel Financial Corp boosted its stake in shares of Alaska Air Group by 51.5% in the second quarter. Stifel Financial Corp now owns 30,172 shares of the transportation company’s stock worth $2,705,000 after acquiring an additional 10,261 shares during the period. Janus Henderson Group PLC bought a new position in shares of Alaska Air Group in the second quarter worth about $57,891,000. Cubist Systematic Strategies LLC boosted its stake in shares of Alaska Air Group by 10.9% in the second quarter. Cubist Systematic Strategies LLC now owns 17,301 shares of the transportation company’s stock worth $1,553,000 after acquiring an additional 1,701 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Alaska Air Group by 24.1% in the second quarter. The Manufacturers Life Insurance Company now owns 205,247 shares of the transportation company’s stock worth $18,423,000 after acquiring an additional 39,837 shares during the period. 87.75% of the stock is owned by hedge funds and other institutional investors.

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About Alaska Air Group

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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