Alaska Air Group (NYSE:ALK) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, January 9th, Marketbeat reports. They presently have a $84.00 price objective on the transportation company’s stock. Bank of America’s price objective suggests a potential upside of 18.61% from the stock’s current price.
Other research analysts have also issued reports about the company. Barclays cut their target price on Alaska Air Group from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. Cowen dropped their price objective on Alaska Air Group from $103.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, September 14th. Morgan Stanley reiterated an “overweight” rating on shares of Alaska Air Group in a research note on Monday, September 18th. Deutsche Bank dropped their price objective on Alaska Air Group from $99.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Finally, Stifel Nicolaus dropped their price objective on Alaska Air Group from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Alaska Air Group currently has an average rating of “Buy” and an average target price of $88.89.
Shares of Alaska Air Group (NYSE:ALK) traded down $0.46 during midday trading on Tuesday, hitting $70.82. The company had a trading volume of 2,275,614 shares, compared to its average volume of 1,740,000. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $8,710.00, a price-to-earnings ratio of 11.35 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.
Alaska Air Group (NYSE:ALK) last issued its earnings results on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.02). The firm had revenue of $2.12 billion during 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 business’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 earnings per share. equities analysts anticipate that Alaska Air Group will post 6.64 EPS for the current year.
In other news, EVP Andrew R. Harrison sold 540 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $65.53, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David L. Campbell sold 4,934 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $68.00, for a total value of $335,512.00. Following the completion of 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.
A number of institutional investors have recently bought and sold shares of ALK. Egerton Capital UK LLP boosted its holdings in Alaska Air Group by 51.6% in the third quarter. Egerton Capital UK LLP now owns 4,476,494 shares of the transportation company’s stock valued at $341,422,000 after acquiring an additional 1,524,149 shares during the last quarter. Janus Henderson Group PLC bought a new position in Alaska Air Group in the second quarter valued at about $57,891,000. Ardevora Asset Management LLP bought a new position in Alaska Air Group in the third quarter valued at about $33,124,000. Lateef Investment Management L.P. bought a new position in Alaska Air Group in the third quarter valued at about $24,256,000. Finally, Victory Capital Management Inc. boosted its holdings in Alaska Air Group by 67.2% in the third quarter. Victory Capital Management Inc. now owns 783,102 shares of the transportation company’s stock valued at $59,728,000 after acquiring an additional 314,673 shares during the last quarter. Institutional investors and hedge funds own 88.61% 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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