Alaska Air Group (NYSE:ALK) had its price objective boosted by Morgan Stanley from $74.00 to $76.00 in a research note published on Thursday morning, AnalystRatings.com reports. They currently have an overweight rating on the transportation company’s stock.
A number of other research analysts have also issued reports on the company. Citigroup set a $66.00 price objective on Alaska Air Group and gave the company a hold rating in a research report on Friday, July 26th. Macquarie lowered Alaska Air Group from an outperform rating to a neutral rating and reduced their price target for the stock from $79.00 to $63.00 in a research report on Monday, July 29th. TheStreet upgraded Alaska Air Group from a c rating to a b rating in a research report on Thursday, July 25th. ValuEngine upgraded Alaska Air Group from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Finally, Imperial Capital reiterated an in-line rating and set a $70.00 price target (up previously from $68.00) on shares of Alaska Air Group in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Alaska Air Group currently has an average rating of Buy and an average price target of $72.36.
NYSE:ALK traded up $0.13 during midday trading on Thursday, reaching $66.21. 32,290 shares of the company traded hands, compared to its average volume of 760,613. Alaska Air Group has a twelve month low of $53.39 and a twelve month high of $74.83. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 0.58 and a beta of 0.85. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.63 and a quick ratio of 0.61. The company has a fifty day moving average price of $63.00 and a 200 day moving average price of $61.81.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, July 25th. The transportation company reported $2.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.06. Alaska Air Group had a return on equity of 16.28% and a net margin of 6.00%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm posted $1.66 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Alaska Air Group will post 6.15 earnings per share for the current fiscal year.
In other news, VP Kyle B. Levine sold 2,430 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $157,950.00. Following the completion of the sale, the vice president now owns 8,039 shares in the company, valued at $522,535. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brandon Pedersen sold 4,024 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $67.01, for a total value of $269,648.24. Following the completion of the sale, the chief financial officer now owns 22,500 shares of the company’s stock, valued at approximately $1,507,725. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in shares of Alaska Air Group by 178.2% in the third quarter. Pacer Advisors Inc. now owns 32,581 shares of the transportation company’s stock valued at $2,115,000 after buying an additional 20,870 shares during the period. CX Institutional lifted its holdings in shares of Alaska Air Group by 2.0% in the third quarter. CX Institutional now owns 18,379 shares of the transportation company’s stock valued at $1,193,000 after buying an additional 359 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Alaska Air Group in the third quarter valued at $272,000. Fulton Bank N.A. lifted its holdings in shares of Alaska Air Group by 3.9% in the third quarter. Fulton Bank N.A. now owns 12,802 shares of the transportation company’s stock valued at $831,000 after buying an additional 479 shares during the period. Finally, Atria Investments LLC lifted its holdings in shares of Alaska Air Group by 63.4% in the second quarter. Atria Investments LLC now owns 5,912 shares of the transportation company’s stock valued at $354,000 after buying an additional 2,294 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.
About Alaska Air Group
Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.
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