Alaska Air Group, Inc. (ALK) Receives $76.92 Average PT from Brokerages

Shares of Alaska Air Group, Inc. (NYSE:ALK) have been assigned an average rating of “Hold” from the eighteen ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $76.92.

A number of brokerages recently issued reports on ALK. Stifel Nicolaus lowered their price target on Alaska Air Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 27th. Buckingham Research lowered their price target on Alaska Air Group from $84.00 to $83.00 and set a “buy” rating for the company in a report on Monday, September 24th. ValuEngine raised Alaska Air Group from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Morgan Stanley lowered their price target on Alaska Air Group from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. Finally, TheStreet raised Alaska Air Group from a “c+” rating to a “b-” rating in a report on Wednesday, September 19th.

Shares of Alaska Air Group stock opened at $62.58 on Wednesday. Alaska Air Group has a one year low of $57.53 and a one year high of $80.17. The stock has a market cap of $7.68 billion, a PE ratio of 9.42, a P/E/G ratio of 3.31 and a beta of 0.54. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.71.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, July 26th. The transportation company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.03. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Alaska Air Group had a return on equity of 16.99% and a net margin of 10.28%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.48 earnings per share. On average, sell-side analysts predict that Alaska Air Group will post 4.23 earnings per share for the current year.

In other news, EVP Shane R. Tackett sold 3,000 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $66.81, for a total value of $200,430.00. Following the completion of the sale, the executive vice president now directly owns 8,238 shares of the company’s stock, valued at $550,380.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Vident Investment Advisory LLC boosted its holdings in shares of Alaska Air Group by 23.0% in the second quarter. Vident Investment Advisory LLC now owns 4,699 shares of the transportation company’s stock valued at $284,000 after acquiring an additional 879 shares during the period. BancorpSouth Bank boosted its holdings in shares of Alaska Air Group by 12.5% in the second quarter. BancorpSouth Bank now owns 7,989 shares of the transportation company’s stock valued at $482,000 after acquiring an additional 885 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Alaska Air Group by 38.5% in the second quarter. Daiwa Securities Group Inc. now owns 3,238 shares of the transportation company’s stock valued at $196,000 after acquiring an additional 900 shares during the period. Mitchell Capital Management Co. boosted its holdings in shares of Alaska Air Group by 14.5% in the second quarter. Mitchell Capital Management Co. now owns 7,214 shares of the transportation company’s stock valued at $436,000 after acquiring an additional 916 shares during the period. Finally, Gibraltar Capital Management Inc. boosted its holdings in shares of Alaska Air Group by 1.2% in the second quarter. Gibraltar Capital Management Inc. now owns 93,510 shares of the transportation company’s stock valued at $5,647,000 after acquiring an additional 1,079 shares during the period. 88.74% of the stock is owned by institutional investors and hedge funds.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.

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Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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