Alaska Air Group (NYSE:ALK) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday. They presently have a $84.00 price target on the transportation company’s stock. Bank of America’s target price would indicate a potential upside of 16.59% from the company’s current price.
A number of other brokerages have also recently commented on ALK. Zacks Investment Research raised shares of Alaska Air Group from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alaska Air Group in a research report on Monday, September 18th. Stifel Nicolaus cut their price target on shares of Alaska Air Group from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Macquarie started coverage on shares of Alaska Air Group in a research report on Monday, September 25th. They set an “outperform” rating and a $94.00 price target on the stock. Finally, Standpoint Research started coverage on shares of Alaska Air Group in a research report on Monday, December 18th. They set a “buy” rating and a $90.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. Alaska Air Group currently has an average rating of “Buy” and a consensus target price of $88.89.
Shares of Alaska Air Group (ALK) traded up $0.76 during trading on Tuesday, hitting $72.05. 1,797,700 shares of the company traded hands, compared to its average volume of 1,680,000. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. Alaska Air Group has a one year low of $61.10 and a one year high of $101.43. The company has a market capitalization of $8,870.00, a PE ratio of 11.55 and a beta of 1.03.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $2.24 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.02). The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.13 billion. Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The business’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 EPS. equities research analysts anticipate that Alaska Air Group will post 6.69 EPS for the current year.
In other news, CEO David L. Campbell sold 4,934 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $68.00, for a total transaction of $335,512.00. Following the transaction, the chief executive officer now owns 9,648 shares in the company, valued at $656,064. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 540 shares of the company’s stock in a transaction dated 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 owns 20,788 shares in the company, valued at approximately $1,362,237.64. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its holdings in shares of Alaska Air Group by 4.0% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 487,106 shares of the transportation company’s stock worth $37,152,000 after acquiring an additional 18,555 shares during the last quarter. Shelton Capital Management raised its holdings in shares of Alaska Air Group by 38.0% in the 3rd quarter. Shelton Capital Management now owns 53,763 shares of the transportation company’s stock worth $4,101,000 after acquiring an additional 14,800 shares during the last quarter. Hartline Investment Corp raised its holdings in shares of Alaska Air Group by 21.2% in the 3rd quarter. Hartline Investment Corp now owns 32,059 shares of the transportation company’s stock worth $2,445,000 after acquiring an additional 5,599 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Alaska Air Group by 103.8% in the 3rd quarter. GSA Capital Partners LLP now owns 8,610 shares of the transportation company’s stock worth $657,000 after acquiring an additional 4,386 shares during the last quarter. Finally, Cypress Capital Group acquired a new stake in shares of Alaska Air Group in the 3rd quarter worth about $351,000. Institutional investors own 88.57% of the company’s stock.
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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.
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