Alaska Air Group (NYSE:ALK) had its price objective trimmed by Raymond James from $78.00 to $75.00 in a research report released on Monday morning, Analyst Price Targets reports. The firm currently has a strong-buy rating on the transportation company’s stock.
Several other equities analysts also recently weighed in on ALK. Morgan Stanley reduced their target price on Alaska Air Group from $89.00 to $82.00 and set an overweight rating on the stock in a research report on Tuesday, September 14th. JPMorgan Chase & Co. raised their price objective on Alaska Air Group from $94.00 to $97.00 and gave the stock an overweight rating in a report on Friday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Alaska Air Group presently has a consensus rating of Buy and a consensus target price of $76.70.
NYSE ALK opened at $49.45 on Monday. The business’s 50-day moving average price is $56.69 and its 200 day moving average price is $59.39. Alaska Air Group has a twelve month low of $47.38 and a twelve month high of $74.25. The company has a market capitalization of $6.20 billion, a PE ratio of 309.06 and a beta of 1.64. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.63.
Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, October 20th. The transportation company reported $1.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.18. Alaska Air Group had a negative return on equity of 18.97% and a net margin of 0.59%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the business posted ($3.23) earnings per share. The firm’s revenue for the quarter was up 178.6% compared to the same quarter last year. Equities analysts predict that Alaska Air Group will post -2.09 EPS for the current year.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 4,875 shares of the firm’s stock in a transaction that occurred on Friday, October 1st. The stock was sold at an average price of $60.74, for a total transaction of $296,107.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shane R. Tackett sold 1,700 shares of the firm’s stock in a transaction that occurred on Thursday, November 11th. The shares were sold at an average price of $56.88, for a total value of $96,696.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,050 shares of company stock valued at $1,040,298. Insiders own 0.73% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Alaska Air Group by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 13,139,751 shares of the transportation company’s stock worth $792,459,000 after acquiring an additional 236,923 shares in the last quarter. BlackRock Inc. grew its position in shares of Alaska Air Group by 3.2% in the 2nd quarter. BlackRock Inc. now owns 8,365,883 shares of the transportation company’s stock worth $504,545,000 after acquiring an additional 260,248 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Alaska Air Group by 2.0% in the 3rd quarter. Victory Capital Management Inc. now owns 5,652,030 shares of the transportation company’s stock worth $331,209,000 after acquiring an additional 110,377 shares in the last quarter. Boston Partners grew its position in shares of Alaska Air Group by 0.7% in the 3rd quarter. Boston Partners now owns 3,022,650 shares of the transportation company’s stock worth $177,138,000 after acquiring an additional 19,925 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Alaska Air Group by 16.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,504,869 shares of the transportation company’s stock worth $146,575,000 after acquiring an additional 350,865 shares in the last quarter. Institutional investors own 75.95% of the company’s stock.
Alaska Air Group Company Profile
Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional and Horizon. The Mainline segment includes Alaska’s Boeing or Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Canada, Mexico, and Costa Rica.
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