ValuEngine lowered shares of Alaska Air Group, Inc. (NYSE:ALK) from a strong-buy rating to a buy rating in a research report report published on Friday, September 1st.
ALK has been the subject of several other reports. Stifel Nicolaus reiterated a buy rating and set a $145.00 price objective on shares of Alaska Air Group in a research note on Friday, May 26th. BidaskClub cut Alaska Air Group from a buy rating to a hold rating in a report on Thursday, June 29th. Bank of America Corporation increased their target price on Alaska Air Group from $115.00 to $120.00 and gave the stock a buy rating in a report on Friday, June 30th. Cowen and Company restated an outperform rating and set a $103.00 target price on shares of Alaska Air Group in a report on Tuesday, June 20th. Finally, Zacks Investment Research upgraded Alaska Air Group from a hold rating to a buy rating and set a $101.00 target price on the stock in a report on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $106.55.
Shares of Alaska Air Group (NYSE ALK) opened at 75.28 on Friday. The firm has a 50 day moving average of $79.30 and a 200-day moving average of $87.26. The stock has a market capitalization of $9.30 billion, a P/E ratio of 12.24 and a beta of 1.00. Alaska Air Group has a 12 month low of $64.19 and a 12 month high of $101.43.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 earnings per share (EPS) for the quarter, missing the 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 quarter in the prior year, the company earned $2.12 earnings per share. The business’s revenue was up 40.7% compared to the same quarter last year. Analysts forecast that Alaska Air Group will post $7.67 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, August 18th. Alaska Air Group’s dividend payout ratio is currently 19.48%.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 2,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total transaction of $205,992.00. Following the transaction, the chairman now owns 140,346 shares of the company’s stock, valued at approximately $12,045,897.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bradley D. Tilden sold 5,600 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $94.48, for a total value of $529,088.00. Following the transaction, the chairman now directly owns 145,546 shares in the company, valued at approximately $13,751,186.08. The disclosure for this sale can be found here. In the last three months, insiders sold 10,350 shares of company stock worth $937,251. 0.57% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the business. Mackenzie Financial Corp bought a new position in shares of Alaska Air Group during the 1st quarter worth approximately $64,763,000. Vanguard Group Inc. boosted its stake in shares of Alaska Air Group by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 11,829,247 shares of the transportation company’s stock worth $1,061,794,000 after acquiring an additional 261,887 shares during the period. BlackRock Inc. boosted its stake in shares of Alaska Air Group by 4,899.5% during the 1st quarter. BlackRock Inc. now owns 6,979,699 shares of the transportation company’s stock worth $643,668,000 after acquiring an additional 6,840,090 shares during the period. State Street Corp boosted its stake in shares of Alaska Air Group by 4.8% during the 1st quarter. State Street Corp now owns 4,553,574 shares of the transportation company’s stock worth $419,926,000 after acquiring an additional 208,195 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Alaska Air Group by 4.6% during the 2nd quarter. Franklin Resources Inc. now owns 3,348,411 shares of the transportation company’s stock worth $300,554,000 after acquiring an additional 148,061 shares during the period. 88.34% of the stock is currently owned by hedge funds and other 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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