Seaport Res Ptn Comments on Alaska Air Group, Inc.’s Q1 2024 Earnings (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK) – Stock analysts at Seaport Res Ptn lowered their Q1 2024 earnings per share (EPS) estimates for shares of Alaska Air Group in a research note issued to investors on Monday, April 8th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will earn ($1.10) per share for the quarter, down from their prior estimate of ($0.50). The consensus estimate for Alaska Air Group’s current full-year earnings is $4.67 per share. Seaport Res Ptn also issued estimates for Alaska Air Group’s FY2024 earnings at $4.55 EPS.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, January 25th. The transportation company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.12. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Alaska Air Group had a return on equity of 14.72% and a net margin of 2.25%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS.

A number of other research firms have also recently weighed in on ALK. Melius cut Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. TD Cowen increased their price objective on Alaska Air Group from $41.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft raised Alaska Air Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $51.00 in a research report on Tuesday, February 20th. UBS Group initiated coverage on Alaska Air Group in a research report on Wednesday, March 20th. They set a “buy” rating and a $54.00 price objective for the company. Finally, Evercore ISI increased their target price on Alaska Air Group from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.44.

Alaska Air Group Stock Up 1.7 %

Shares of NYSE ALK opened at $42.67 on Thursday. The stock has a market cap of $5.37 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 0.81 and a beta of 1.63. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 0.53. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $57.18. The business has a 50-day moving average price of $38.90 and a 200 day moving average price of $36.99.

Institutional Investors Weigh In On Alaska Air Group

Several hedge funds have recently made changes to their positions in the business. Executive Wealth Group LLC boosted its holdings in shares of Alaska Air Group by 200.0% during the first quarter. Executive Wealth Group LLC now owns 41,913 shares of the transportation company’s stock worth $1,802,000 after purchasing an additional 27,942 shares during the last quarter. CVA Family Office LLC boosted its holdings in shares of Alaska Air Group by 17.1% during the first quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock worth $96,000 after purchasing an additional 325 shares during the last quarter. Alaska Permanent Fund Corp boosted its holdings in shares of Alaska Air Group by 23.1% during the first quarter. Alaska Permanent Fund Corp now owns 62,868 shares of the transportation company’s stock worth $2,703,000 after purchasing an additional 11,796 shares during the last quarter. Napatree Capital LLC acquired a new position in Alaska Air Group in the fourth quarter valued at $694,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Alaska Air Group by 24.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 397,028 shares of the transportation company’s stock valued at $15,512,000 after acquiring an additional 78,670 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Insiders Place Their Bets

In other Alaska Air Group news, EVP Andrew R. Harrison sold 6,500 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the transaction, the executive vice president now owns 26,048 shares of the company’s stock, valued at $999,201.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is currently owned by company insiders.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.