Barclays PLC Reiterates Buy Rating for Alaska Air Group, Inc. (ALK)
Alaska Air Group, Inc. (NYSE:ALK)‘s stock had its “buy” rating reiterated by research analysts at Barclays PLC in a report released on Thursday.
Several other analysts have also issued reports on ALK. Stifel Nicolaus restated a “buy” rating and issued a $145.00 target price on shares of Alaska Air Group in a research note on Friday, May 26th. Cowen and Company restated an “outperform” rating and issued a $103.00 target price on shares of Alaska Air Group in a research note on Tuesday, June 20th. BidaskClub lowered Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Bank of America Corporation boosted their target price on Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a research note 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 on the stock in a research note on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $106.85.
Alaska Air Group (NYSE:ALK) opened at 76.21 on Thursday. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of 12.39 and a beta of 1.00. Alaska Air Group has a one year low of $64.19 and a one year 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 issued its earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by ($0.01). The firm 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 business’s quarterly revenue was up 40.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.12 earnings per share. Analysts expect that Alaska Air Group will post $7.67 EPS for the current year.
In other news, Chairman Bradley D. Tilden sold 5,600 shares of Alaska Air Group stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $94.48, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 2,350 shares of Alaska Air Group stock in a transaction on Monday, August 7th. The shares were sold at an average price of $86.03, for a total value of $202,170.50. Following the completion of the transaction, the executive vice president now owns 21,328 shares of the company’s stock, valued at $1,834,847.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,350 shares of company stock valued at $937,251. 0.57% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of ALK. Strs Ohio grew its position in Alaska Air Group by 22.2% during the first quarter. Strs Ohio now owns 5,555 shares of the transportation company’s stock worth $512,000 after buying an additional 1,008 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in Alaska Air Group during the first quarter worth about $303,000. American Century Companies Inc. grew its position in Alaska Air Group by 19.5% during the first quarter. American Century Companies Inc. now owns 70,151 shares of the transportation company’s stock worth $6,469,000 after buying an additional 11,440 shares in the last quarter. Comerica Bank grew its position in Alaska Air Group by 1.9% during the first quarter. Comerica Bank now owns 30,966 shares of the transportation company’s stock worth $2,630,000 after buying an additional 572 shares in the last quarter. Finally, LS Investment Advisors LLC grew its position in Alaska Air Group by 15.3% during the first quarter. LS Investment Advisors LLC now owns 2,836 shares of the transportation company’s stock worth $262,000 after buying an additional 377 shares in the last quarter. Institutional investors and hedge funds own 88.34% of the company’s stock.
About Alaska Air Group
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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