Vetr Inc. Upgrades Alaska Air Group, Inc. (ALK) to “Strong-Buy”
Alaska Air Group, Inc. (NYSE:ALK) was upgraded by analysts at Vetr from a “hold” rating to a “strong-buy” rating in a research report issued on Monday. The brokerage presently has a $124.48 target price on the stock. Vetr‘s price objective suggests a potential upside of 31.28% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $113.00 price objective on shares of Alaska Air Group in a research report on Wednesday, February 22nd. Stifel Nicolaus raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $145.00 in a research report on Monday. Barclays PLC initiated coverage on shares of Alaska Air Group in a report on Thursday, December 15th. They issued an “overweight” rating for the company. Imperial Capital reaffirmed an “in-line” rating and issued a $84.00 target price on shares of Alaska Air Group in a report on Thursday, November 24th. Finally, Cowen and Company downgraded shares of Alaska Air Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 4th. Four 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 has a consensus rating of “Buy” and an average target price of $99.61.
Alaska Air Group (NYSE:ALK) traded up 1.56% on Monday, hitting $94.82. The stock had a trading volume of 1,498,802 shares. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 14.50 and a beta of 0.80. Alaska Air Group has a 52-week low of $54.51 and a 52-week high of $101.43. The company’s 50 day moving average price is $96.07 and its 200 day moving average price is $82.85.
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Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, February 8th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. Alaska Air Group had a net margin of 13.72% and a return on equity of 33.50%. The firm earned $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts expect that Alaska Air Group will post $7.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 9th. Shareholders of record on Tuesday, February 21st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, February 16th. This is an increase from Alaska Air Group’s previous quarterly dividend of $0.28. Alaska Air Group’s dividend payout ratio is 16.79%.
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In other Alaska Air Group news, Chairman Bradley D. Tilden sold 5,600 shares of the stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $87.91, for a total transaction of $492,296.00. Following the completion of the transaction, the chairman now owns 23,900 shares of the company’s stock, valued at approximately $2,101,049. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kyle B. Levine sold 1,703 shares of the stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $97.65, for a total transaction of $166,297.95. Following the transaction, the vice president now directly owns 39 shares of the company’s stock, valued at approximately $3,808.35. The disclosure for this sale can be found here. Insiders have sold a total of 62,003 shares of company stock valued at $5,992,112 in the last three months. Insiders own 0.68% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC bought a new position in Alaska Air Group during the first quarter valued at approximately $107,000. Bessemer Group Inc. increased its position in Alaska Air Group by 10.2% in the fourth quarter. Bessemer Group Inc. now owns 1,358 shares of the company’s stock valued at $121,000 after buying an additional 126 shares during the period. Northwest Quadrant Wealth Management LLC bought a new position in Alaska Air Group during the fourth quarter valued at approximately $157,000. Tower Research Capital LLC TRC increased its position in Alaska Air Group by 146.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,077 shares of the company’s stock valued at $121,000 after buying an additional 1,233 shares during the period. Finally, IFP Advisors Inc increased its position in Alaska Air Group by 21.9% in the first quarter. IFP Advisors Inc now owns 2,243 shares of the company’s stock valued at $184,000 after buying an additional 403 shares during the period. 89.01% of the stock is owned by institutional investors and hedge funds.
Alaska Air Group Company Profile
Alaska Air Group, Inc is a holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company’s segments include 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.
To view Vetr’s full report, visit Vetr’s official website.
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