Alaska Air Group (NYSE:ALK) Rating Lowered to Strong Sell at Wall Street Zen

Alaska Air Group (NYSE:ALK) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Monday.

Several other equities analysts have also recently commented on the company. Evercore set a $60.00 target price on Alaska Air Group in a research report on Friday, April 17th. Susquehanna raised their price target on Alaska Air Group from $50.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, July 7th. Zacks Research upgraded Alaska Air Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Bank of America boosted their price objective on Alaska Air Group from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Finally, BMO Capital Markets upped their price objective on shares of Alaska Air Group from $55.00 to $62.50 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alaska Air Group currently has an average rating of “Moderate Buy” and a consensus price target of $67.12.

Alaska Air Group Stock Down 0.0%

Shares of NYSE:ALK opened at $45.50 on Monday. The firm has a fifty day moving average price of $45.82 and a two-hundred day moving average price of $46.00. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.43 and a quick ratio of 0.39. Alaska Air Group has a one year low of $33.03 and a one year high of $65.88. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 85.84 and a beta of 1.28.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Monday, April 20th. The transportation company reported ($1.68) earnings per share for the quarter, missing the consensus estimate of ($1.61) by ($0.07). Alaska Air Group had a return on equity of 4.96% and a net margin of 0.51%.The firm had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the previous year, the company posted ($0.77) EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts anticipate that Alaska Air Group will post -0.06 EPS for the current fiscal year.

Institutional Trading of Alaska Air Group

Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in shares of Alaska Air Group in the second quarter worth approximately $1,407,000. 180 Wealth Advisors LLC bought a new stake in Alaska Air Group during the 2nd quarter valued at $271,000. GAMMA Investing LLC boosted its position in Alaska Air Group by 15.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,978 shares of the transportation company’s stock valued at $260,000 after buying an additional 656 shares during the period. Cedar Mountain Advisors LLC boosted its position in Alaska Air Group by 963.3% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 840 shares of the transportation company’s stock valued at $44,000 after buying an additional 761 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Alaska Air Group by 32.5% in the 1st quarter. Parallel Advisors LLC now owns 1,570 shares of the transportation company’s stock worth $58,000 after acquiring an additional 385 shares during the last quarter. Institutional investors own 81.90% of the company’s stock.

Alaska Air Group Company Profile

Alaska Air Group is a publicly traded holding company headquartered in Seattle, Washington, that operates two main airlines—Alaska Airlines and Horizon Air. Through these carriers, the company offers scheduled passenger and cargo services across a network spanning the United States, Canada and Mexico. Its core business activities include domestic and international air transportation, loyalty program management under the Mileage Plan brand, and ancillary revenue streams such as baggage fees, in-flight sales and code-share partnerships with other global airlines.

The roots of Alaska Air Group trace back to the foundation of its flagship carrier, Alaska Airlines, in 1932.