Alaska Air Group, Inc. (ALK) PT Lowered to $100.00
Alaska Air Group, Inc. (NYSE:ALK) had its price target dropped by equities research analysts at Cowen and Company from $103.00 to $100.00 in a report issued on Thursday. The brokerage presently has an “outperform” rating on the transportation company’s stock. Cowen and Company’s price objective points to a potential upside of 31.22% from the company’s previous close.
A number of other equities analysts have also recently commented on the company. BidaskClub cut Alaska Air Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Morgan Stanley reduced their price target on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating for the company in a report on Monday, July 17th. ValuEngine cut Alaska Air Group from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a report on Tuesday, July 4th. Finally, Bank of America Corporation lifted 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. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Alaska Air Group presently has a consensus rating of “Buy” and an average target price of $106.55.
Alaska Air Group (NYSE ALK) opened at 77.00 on Thursday. The firm has a market cap of $9.51 billion, a PE ratio of 12.52 and a beta of 1.00. Alaska Air Group has a 12-month low of $64.19 and a 12-month high of $101.43. The firm has a 50-day moving average price of $80.26 and a 200 day moving average price of $87.58.
Alaska Air Group (NYSE:ALK) last posted its quarterly 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 return on equity of 30.04% and a net margin of 11.02%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the business posted $2.12 EPS. The company’s revenue for the quarter was up 40.7% on a year-over-year basis. Equities research analysts forecast that Alaska Air Group will post $7.67 EPS for the current year.
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In other Alaska Air Group news, Chairman Bradley D. Tilden sold 2,400 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $85.83, for a total value of $205,992.00. Following the transaction, the chairman now owns 140,346 shares in the company, valued at $12,045,897.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew R. Harrison sold 2,350 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $86.03, for a total transaction of $202,170.50. Following the completion of the transaction, the executive vice president now owns 21,328 shares in the company, valued at approximately $1,834,847.84. The disclosure for this sale can be found here. Insiders sold 10,350 shares of company stock worth $937,251 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Mountain Capital Investment Advisors Inc bought a new stake in shares of Alaska Air Group during the 2nd quarter valued at about $122,000. Bessemer Group Inc. boosted its stake in shares of Alaska Air Group by 57.9% during the 2nd quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after purchasing an additional 695 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of Alaska Air Group during the 1st quarter valued at about $179,000. Assetmark Inc. boosted its stake in shares of Alaska Air Group by 70.3% during the 1st quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock valued at $187,000 after purchasing an additional 837 shares in the last quarter. Finally, Rehmann Capital Advisory Group bought a new stake in shares of Alaska Air Group during the 2nd quarter valued at about $201,000. 88.34% 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), 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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