Alaska Air Group, Inc. (ALK) Given Consensus Rating of “Buy” by Analysts
Shares of Alaska Air Group, Inc. (NYSE:ALK) have been given an average recommendation of “Buy” by the thirteen analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $105.25.
ALK has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on Alaska Air Group from $102.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, April 28th. BidaskClub downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Tuesday, July 4th. Cowen and Company upgraded Alaska Air Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $102.00 to $103.00 in a report on Monday, April 24th. Finally, Bank of America Corporation increased their price target on Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, June 30th.
In related news, Chairman Bradley D. Tilden sold 5,600 shares of the stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $94.48, for a total transaction of $529,088.00. Following the completion of the transaction, the chairman now directly owns 145,546 shares in the company, valued at $13,751,186.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Joseph A. Sprague sold 7,000 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $90.85, for a total value of $635,950.00. Following the transaction, the senior vice president now owns 7,191 shares of the company’s stock, valued at $653,302.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,850 shares of company stock valued at $2,149,881. 0.57% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ALK. Mountain Capital Investment Advisors Inc purchased a new position in Alaska Air Group during the second quarter worth about $122,000. Bessemer Group Inc. increased its position in Alaska Air Group by 57.9% in the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock worth $171,000 after buying an additional 695 shares during the last quarter. Twin Tree Management LP purchased a new position in Alaska Air Group during the first quarter worth about $179,000. Assetmark Inc. increased its position in Alaska Air Group by 70.3% in the first quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock worth $187,000 after buying an additional 837 shares during the last quarter. Finally, Rehmann Capital Advisory Group purchased a new position in Alaska Air Group during the second quarter worth about $201,000. Institutional investors and hedge funds own 94.35% of the company’s stock.
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Shares of Alaska Air Group (NYSE ALK) traded down 1.59% during trading on Friday, reaching $78.45. The company had a trading volume of 1,649,914 shares. Alaska Air Group has a 52-week low of $64.19 and a 52-week high of $101.43. The company has a 50 day moving average of $88.05 and a 200-day moving average of $90.24. The firm has a market capitalization of $9.69 billion, a P/E ratio of 12.76 and a beta of 0.95.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $2.52 by $0.01. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The company’s revenue for the quarter was up 40.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.12 EPS. Equities analysts expect that Alaska Air Group will post $7.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.53%. Alaska Air Group’s dividend payout ratio (DPR) is currently 19.48%.
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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