Alaska Air Group, Inc. (NYSE:ALK) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Tuesday.

A number of other equities analysts have also recently commented on ALK. Cowen and Company upgraded Alaska Air Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $102.00 to $103.00 in a report on Monday, April 24th. Morgan Stanley raised their target price on Alaska Air Group from $102.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, April 28th. Stifel Nicolaus restated a “buy” rating and set a $145.00 target price on shares of Alaska Air Group in a report on Friday, May 26th. Bank of America Corporation raised their target price on Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, June 30th. Finally, Zacks Investment Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Alaska Air Group presently has an average rating of “Buy” and a consensus target price of $104.86.

Alaska Air Group (NYSE ALK) traded down 1.12% during mid-day trading on Tuesday, hitting $77.11. The company had a trading volume of 1,305,209 shares. The company has a 50-day moving average price of $87.40 and a 200 day moving average price of $89.95. Alaska Air Group has a 52-week low of $64.19 and a 52-week high of $101.43. The company has a market capitalization of $9.53 billion, a P/E ratio of 12.54 and a beta of 0.95.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $2.52 by $0.01. Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the business earned $2.12 earnings per share. The business’s revenue was up 40.7% compared to the same quarter last year. On average, analysts forecast that Alaska Air Group will post $7.78 EPS for the current fiscal year.

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In other news, EVP Andrew R. Harrison sold 2,350 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $86.03, for a total transaction of $202,170.50. Following the sale, the executive vice president now owns 21,328 shares of the company’s stock, valued at approximately $1,834,847.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Bradley D. Tilden sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $88.72, for a total value of $576,680.00. Following the sale, the chairman now directly owns 148,446 shares in the company, valued at approximately $13,170,129.12. The disclosure for this sale can be found here. Insiders sold a total of 23,850 shares of company stock valued at $2,149,881 in the last quarter. Company insiders own 0.57% of the company’s stock.

Several large investors have recently modified their holdings of the company. Bowling Portfolio Management LLC raised its stake in shares of Alaska Air Group by 75.9% in the first quarter. Bowling Portfolio Management LLC now owns 59,826 shares of the transportation company’s stock valued at $5,517,000 after buying an additional 25,808 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Alaska Air Group by 1,572.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,840 shares of the transportation company’s stock valued at $1,461,000 after buying an additional 14,893 shares during the period. Advisor Partners LLC raised its stake in shares of Alaska Air Group by 19.5% in the first quarter. Advisor Partners LLC now owns 3,358 shares of the transportation company’s stock valued at $310,000 after buying an additional 549 shares during the period. Cookson Peirce & Co. Inc. raised its stake in shares of Alaska Air Group by 232.0% in the first quarter. Cookson Peirce & Co. Inc. now owns 131,195 shares of the transportation company’s stock valued at $12,099,000 after buying an additional 91,680 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Alaska Air Group by 1,181.4% in the first quarter. Canada Pension Plan Investment Board now owns 109,100 shares of the transportation company’s stock valued at $10,061,000 after buying an additional 100,586 shares during the period. 94.35% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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