Several other analysts have also recently issued reports on ALK. Barclays PLC reiterated a buy rating on shares of Alaska Air Group in a research note on Thursday, September 14th. Stifel Nicolaus reiterated a buy rating and issued a $125.00 target price on shares of Alaska Air Group in a research note on Saturday. BidaskClub cut shares of Alaska Air Group from a buy rating to a hold rating in a research note on Thursday, June 29th. Morgan Stanley lowered their target price on shares of Alaska Air Group from $101.00 to $96.00 and set an overweight rating on the stock in a research note on Thursday, August 17th. Finally, Cowen and Company lowered their target price on shares of Alaska Air Group from $103.00 to $100.00 and set an outperform rating on the stock in a research note on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $104.55.
Alaska Air Group (NYSE ALK) opened at 74.79 on Monday. The company has a 50-day moving average of $78.55 and a 200-day moving average of $86.73. The company has a market capitalization of $9.24 billion, a PE ratio of 12.16 and a beta of 1.00. Alaska Air Group has a 52 week low of $64.19 and a 52 week high of $101.43.
Alaska Air Group (NYSE:ALK) last posted its earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share (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 firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the prior year, the company earned $2.12 earnings per share. The business’s revenue for the quarter was up 40.7% compared to the same quarter last year. On average, equities research analysts anticipate that Alaska Air Group will post $7.53 EPS for the current year.
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The business also recently disclosed 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 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Friday, August 18th. Alaska Air Group’s dividend payout ratio (DPR) is currently 19.48%.
In other news, Chairman Bradley D. Tilden sold 5,600 shares of the firm’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $94.48, for a total transaction of $529,088.00. Following the sale, the chairman now owns 145,546 shares in the company, valued at approximately $13,751,186.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Andrew R. Harrison sold 2,350 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $86.03, for a total transaction of $202,170.50. Following the sale, the executive vice president now owns 21,328 shares in the company, valued at approximately $1,834,847.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,350 shares of company stock worth $937,251. Corporate insiders own 0.57% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Mountain Capital Investment Advisors Inc bought a new position in shares of Alaska Air Group during the 2nd quarter valued at $122,000. Bessemer Group Inc. grew its holdings in shares of 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 purchasing an additional 695 shares during the last quarter. Twin Tree Management LP bought a new position in shares of Alaska Air Group during the 1st quarter valued at $179,000. Rehmann Capital Advisory Group bought a new position in shares of Alaska Air Group during the 2nd quarter valued at $201,000. Finally, Insight Capital Research & Management Inc. bought a new position in shares of Alaska Air Group during the 2nd quarter valued at $215,000. 87.76% of the stock is currently owned by institutional investors.
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.
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