Standpoint Research Initiates Coverage on Alaska Air Group (ALK)
Standpoint Research started coverage on shares of Alaska Air Group (NYSE:ALK) in a report issued on Monday. The firm set a “buy” rating and a $90.00 price target on the transportation company’s stock. Standpoint Research’s target price suggests a potential upside of 27.06% from the stock’s previous close.
ALK has been the topic of a number of other research reports. Morgan Stanley set a $78.00 price target on Alaska Air Group and gave the stock a “buy” rating in a research note on Thursday, November 16th. Imperial Capital dropped their price target on Alaska Air Group from $85.00 to $70.00 and set a “line” rating on the stock in a research note on Thursday, October 26th. J P Morgan Chase & Co downgraded Alaska Air Group from an “overweight” rating to a “neutral” rating and set a $74.00 price target on the stock. in a research note on Wednesday, November 1st. ValuEngine downgraded Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Cowen restated a “buy” rating and set a $103.00 price target on shares of Alaska Air Group in a research note on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $91.18.
Alaska Air Group (ALK) traded up $1.44 on Monday, hitting $70.83. The stock had a trading volume of 2,635,200 shares, compared to its average volume of 1,490,543. Alaska Air Group has a fifty-two week low of $61.10 and a fifty-two week high of $101.43. The stock has a market cap of $8,711.59, a P/E ratio of 9.62 and a beta of 1.03. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Wednesday, October 25th. The transportation company reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.02). The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The company’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 EPS. analysts forecast that Alaska Air Group will post 6.75 EPS for the current year.
In other Alaska Air Group news, EVP Andrew R. Harrison sold 540 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $65.53, for a total transaction of $35,386.20. Following the completion of the sale, the executive vice president now directly owns 20,788 shares of the company’s stock, valued at approximately $1,362,237.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David L. Campbell sold 4,934 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $68.00, for a total value of $335,512.00. Following the sale, the chief executive officer now directly owns 9,648 shares of the company’s stock, valued at $656,064. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of ALK. Mercer Capital Advisers Inc. acquired a new stake in shares of Alaska Air Group in the 3rd quarter valued at approximately $116,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Alaska Air Group in the 2nd quarter valued at approximately $122,000. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Alaska Air Group in the 3rd quarter valued at approximately $153,000. Bessemer Group Inc. lifted its holdings in shares of Alaska Air Group by 57.9% in the 2nd quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after buying an additional 695 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Alaska Air Group in the 3rd quarter valued at approximately $200,000. 88.69% of the stock is owned by institutional investors and hedge funds.
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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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