Capital Performance Advisors LLP Acquires New Shares in Alaska Air Group, Inc. (NYSE:ALK)

Capital Performance Advisors LLP acquired a new position in shares of Alaska Air Group, Inc. (NYSE:ALK) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,483 shares of the transportation company’s stock, valued at approximately $67,000.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Alaska Air Group in the 1st quarter worth about $499,000. Janney Montgomery Scott LLC raised its holdings in shares of Alaska Air Group by 3.2% during the first quarter. Janney Montgomery Scott LLC now owns 17,780 shares of the transportation company’s stock valued at $764,000 after buying an additional 559 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Alaska Air Group by 31.7% during the first quarter. Oppenheimer & Co. Inc. now owns 42,133 shares of the transportation company’s stock worth $1,811,000 after buying an additional 10,137 shares during the period. Illinois Municipal Retirement Fund bought a new position in Alaska Air Group in the 1st quarter worth approximately $3,165,000. Finally, Swiss National Bank grew its holdings in Alaska Air Group by 0.8% in the 1st quarter. Swiss National Bank now owns 63,200 shares of the transportation company’s stock worth $2,717,000 after buying an additional 500 shares in the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Price Performance

NYSE ALK opened at $51.00 on Friday. Alaska Air Group, Inc. has a 1 year low of $32.00 and a 1 year high of $52.15. The business’s fifty day moving average is $43.61 and its two-hundred day moving average is $41.04. The stock has a market capitalization of $6.43 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.17 and a beta of 1.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the firm earned $1.83 earnings per share. Alaska Air Group’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts forecast that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Monday, October 28th. Bank of America upped their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Morgan Stanley lowered their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Citigroup reduced their price target on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Susquehanna increased their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.17.

Alaska Air Group Profile

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.