Bank of America downgraded shares of Alaska Air Group (NYSE:ALK) from a buy rating to a neutral rating in a research note published on Tuesday. Bank of America currently has $84.00 price objective on the transportation company’s stock.
Several other analysts also recently commented on the company. UBS Group raised Alaska Air Group from an outperform rating to a strong-buy rating in a research note on Wednesday, November 15th. Raymond James Financial raised Alaska Air Group from an outperform rating to a strong-buy rating and dropped their price objective for the stock from $85.00 to $80.00 in a research note on Wednesday, November 15th. Zacks Investment Research downgraded Alaska Air Group from a hold rating to a sell rating in a research note on Tuesday, September 12th. JPMorgan 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. Finally, ValuEngine raised Alaska Air Group from a hold rating to a buy rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $88.89.
Shares of Alaska Air Group (NYSE ALK) traded up $0.76 during trading on Tuesday, reaching $72.05. The company had a trading volume of 1,797,700 shares, compared to its average volume of 1,680,000. The firm has a market cap of $8,870.00, a P/E ratio of 11.55 and a beta of 1.03. Alaska Air Group has a twelve month low of $61.10 and a twelve month high of $101.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.02). The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.13 billion. Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The business’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 EPS. equities research analysts predict that Alaska Air Group will post 6.69 EPS for the current fiscal year.
In other news, CEO David L. Campbell sold 4,934 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $68.00, for a total value of $335,512.00. Following the completion of the transaction, the chief executive officer now owns 9,648 shares in the company, valued at approximately $656,064. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew R. Harrison sold 540 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $65.53, for a total value of $35,386.20. Following the completion of the transaction, the executive vice president now owns 20,788 shares of the company’s stock, valued at approximately $1,362,237.64. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Mercer Capital Advisers Inc. bought a new position in shares of Alaska Air Group in the 3rd quarter valued at about $116,000. Mountain Capital Investment Advisors Inc bought a new position in Alaska Air Group during the second quarter worth about $122,000. Bank of Nova Scotia Trust Co. bought a new position in Alaska Air Group during the third quarter worth about $153,000. Harbour Capital Advisors LLC bought a new position in Alaska Air Group during the third quarter worth about $200,000. Finally, Tocqueville Asset Management L.P. bought a new position in Alaska Air Group during the third quarter worth about $207,000. Institutional investors own 88.57% of the company’s stock.
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About Alaska Air Group
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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