Alaska Air Group, Inc. (NYSE:ALK) Given Average Rating of “Buy” by Brokerages
Shares of Alaska Air Group, Inc. (NYSE:ALK) have been given a consensus rating of “Buy” by the thirteen research firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $105.41.
Several research firms have recently weighed in on ALK. J P Morgan Chase & Co set a $116.00 price objective on shares of Alaska Air Group and gave the stock a “buy” rating in a research note on Saturday, April 1st. Zacks Investment Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research note on Tuesday, July 4th. Bank of America Corporation upped their price target on shares of Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Cowen and Company reiterated a “market perform” rating and issued a $102.00 price target on shares of Alaska Air Group in a research note on Monday, April 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target on shares of Alaska Air Group in a research note on Friday, May 26th.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 5,600 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $94.48, for a total value of $529,088.00. Following the completion of the sale, the chairman now owns 145,546 shares of the company’s stock, valued at approximately $13,751,186.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph A. Sprague sold 7,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $90.85, for a total transaction of $635,950.00. Following the completion of the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at approximately $653,302.35. The disclosure for this sale can be found here. Insiders sold a total of 23,800 shares of company stock valued at $2,139,479 in the last three months. Insiders own 0.57% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Deltec Asset Management LLC acquired a new stake in Alaska Air Group during the second quarter worth about $269,000. E&G Advisors LP acquired a new stake in Alaska Air Group during the second quarter worth about $305,000. Jag Capital Management LLC increased its stake in Alaska Air Group by 32.6% in the second quarter. Jag Capital Management LLC now owns 9,500 shares of the transportation company’s stock worth $853,000 after buying an additional 2,335 shares in the last quarter. Oxbow Advisors LLC increased its stake in Alaska Air Group by 47.3% in the second quarter. Oxbow Advisors LLC now owns 19,330 shares of the transportation company’s stock worth $1,735,000 after buying an additional 6,205 shares in the last quarter. Finally, Insight Capital Research & Management Inc. acquired a new stake in Alaska Air Group during the second quarter worth about $215,000. 90.67% of the stock is owned by hedge funds and other institutional investors.
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Shares of Alaska Air Group (NYSE ALK) traded down 1.41% during midday trading on Monday, hitting $87.01. The stock had a trading volume of 882,937 shares. The company’s 50 day moving average price is $90.44 and its 200-day moving average price is $91.19. The firm has a market capitalization of $10.75 billion, a PE ratio of 14.82 and a beta of 0.96. Alaska Air Group has a 1-year low of $64.19 and a 1-year high of $101.43.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Wednesday, April 26th. The transportation company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.01. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.77 billion. Alaska Air Group had a net margin of 11.51% and a return on equity of 30.01%. Alaska Air Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 EPS. Equities analysts predict that Alaska Air Group will post $8.14 earnings per share for the current year.
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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