Standpoint Research initiated coverage on shares of Alaska Air Group (NYSE:ALK) in a research report released on Monday, December 18th, MarketBeat reports. The brokerage issued a buy rating and a $90.00 price objective on the transportation company’s stock.
Several other research firms have also recently commented on ALK. Bank of America lowered their target price on shares of Alaska Air Group from $100.00 to $96.00 and set a buy rating on the stock in a research note on Friday, October 13th. BidaskClub cut shares of Alaska Air Group from a sell rating to a strong sell rating in a research note on Tuesday, August 22nd. Cowen lowered their price objective on shares of Alaska Air Group from $103.00 to $100.00 and set an outperform rating on the stock in a research note on Thursday, September 14th. Barclays reaffirmed a buy rating on shares of Alaska Air Group in a research note on Thursday, September 14th. Finally, Zacks Investment Research cut shares of Alaska Air Group from a hold rating to a sell rating in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. Alaska Air Group presently has a consensus rating of Buy and a consensus price target of $88.89.
Alaska Air Group (ALK) traded down $1.29 during trading on Monday, reaching $73.52. 2,945,200 shares of the company’s stock traded hands, compared to its average volume of 1,730,000. The firm has a market cap of $9,050.00, a PE ratio of 11.78 and a beta of 1.03. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 0.80. Alaska Air Group has a 52-week low of $61.10 and a 52-week high of $101.43.
Alaska Air Group (NYSE:ALK) last released its earnings results 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 company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.13 billion. Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The firm’s quarterly revenue was up 35.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.20 EPS. equities research analysts anticipate that Alaska Air Group will post 6.65 earnings per share for the current year.
In related news, EVP Andrew R. Harrison sold 540 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $65.53, for a total transaction of $35,386.20. Following the completion of the sale, the executive vice president now directly owns 20,788 shares in the company, valued at $1,362,237.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David L. Campbell sold 4,934 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $68.00, for a total transaction of $335,512.00. Following the sale, the chief executive officer now owns 9,648 shares of the company’s stock, valued at $656,064. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Mercer Capital Advisers Inc. bought a new position in Alaska Air Group during the third quarter valued at approximately $116,000. Mountain Capital Investment Advisors Inc bought a new position in Alaska Air Group during the second quarter valued at approximately $122,000. Bank of Nova Scotia Trust Co. bought a new position in Alaska Air Group during the third quarter valued at approximately $153,000. Bessemer Group Inc. raised its position in Alaska Air Group by 57.9% during the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after acquiring an additional 695 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in Alaska Air Group during the third quarter valued at approximately $200,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.
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Alaska Air Group Company Profile
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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