Buckingham Research Upgrades Alaska Air Group Inc. (ALK) to Buy
Alaska Air Group Inc. (NYSE:ALK) was upgraded by equities research analysts at Buckingham Research from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, The Fly reports.
ALK has been the subject of several other research reports. Morgan Stanley reissued a “buy” rating and issued a $85.00 price objective on shares of Alaska Air Group in a research note on Thursday, August 11th. Vetr raised shares of Alaska Air Group from a “buy” rating to a “strong-buy” rating and set a $81.75 price objective for the company in a research note on Wednesday, September 7th. Imperial Capital initiated coverage on shares of Alaska Air Group in a research note on Friday, September 23rd. They issued an “in-line” rating and a $74.00 price objective for the company. Credit Suisse Group AG set a $85.00 price objective on shares of Alaska Air Group and gave the company a “buy” rating in a research note on Tuesday, September 13th. Finally, Zacks Investment Research raised shares of Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $86.48.
Alaska Air Group (NYSE:ALK) opened at 70.43 on Thursday. The stock’s 50 day moving average is $67.64 and its 200-day moving average is $67.92. The company has a market capitalization of $8.67 billion, a PE ratio of 9.75 and a beta of 0.88. Alaska Air Group has a 12 month low of $54.51 and a 12 month high of $87.17.
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Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, July 21st. The company reported $2.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.09 by $0.03. The business earned $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Alaska Air Group had a net margin of 15.86% and a return on equity of 36.88%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.76 EPS. On average, analysts expect that Alaska Air Group will post $7.05 EPS for the current year.
In other Alaska Air Group news, VP Brandon Pedersen sold 9,943 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $70.52, for a total value of $701,180.36. Following the transaction, the vice president now directly owns 13,360 shares of the company’s stock, valued at $942,147.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Tamara S. Young sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $67.37, for a total transaction of $134,740.00. Following the completion of the transaction, the vice president now directly owns 3,490 shares in the company, valued at $235,121.30. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc acquired a new position in Alaska Air Group during the third quarter worth $216,000. Nisa Investment Advisors LLC raised its position in Alaska Air Group by 64.1% in the third quarter. Nisa Investment Advisors LLC now owns 32,000 shares of the company’s stock worth $2,108,000 after buying an additional 12,500 shares during the period. Capstone Asset Management Co. raised its position in Alaska Air Group by 7.2% in the third quarter. Capstone Asset Management Co. now owns 16,604 shares of the company’s stock worth $1,094,000 after buying an additional 1,120 shares during the period. Telemus Capital LLC raised its position in Alaska Air Group by 2.9% in the third quarter. Telemus Capital LLC now owns 10,341 shares of the company’s stock worth $681,000 after buying an additional 293 shares during the period. Finally, Eqis Capital Management Inc. raised its position in Alaska Air Group by 15.4% in the third quarter. Eqis Capital Management Inc. now owns 18,341 shares of the company’s stock worth $1,208,000 after buying an additional 2,446 shares during the period. 88.73% 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) and Horizon Air (Horizon). The Company operates through three segments: Alaska Mainline, Alaska Regional and Horizon. Its Alaska Mainline segment operates the Boeing 737 part of Alaska’s business. It offers north/south service within the western United States, Canada, Mexico and Costa Rica, as well as passenger and dedicated cargo services to and within the state of Alaska.
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