Alaska Air Group (NYSE:ALK) Releases Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Alaska Air Group (NYSE:ALK) released its quarterly earnings results on Thursday. The transportation company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.17, RTT News reports. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the firm posted ($0.62) earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year.

Alaska Air Group Stock Performance

ALK stock traded up $0.57 on Friday, reaching $45.01. The company’s stock had a trading volume of 3,135,383 shares, compared to its average volume of 2,436,116. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $57.18. The company has a market capitalization of $5.66 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 0.89 and a beta of 1.63. The firm has a fifty day moving average of $39.68 and a two-hundred day moving average of $37.22. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.65 and a quick ratio of 0.58.

Analyst Ratings Changes

Several brokerages recently weighed in on ALK. Deutsche Bank Aktiengesellschaft raised Alaska Air Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $44.00 to $51.00 in a report on Tuesday, February 20th. TD Cowen boosted their price objective on Alaska Air Group from $49.00 to $58.00 and gave the company a “buy” rating in a report on Friday. Evercore ISI boosted their price objective on Alaska Air Group from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Melius lowered Alaska Air Group from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Susquehanna upped their target price on Alaska Air Group from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Alaska Air Group currently has an average rating of “Moderate Buy” and a consensus target price of $57.85.

Insider Buying and Selling

In related news, EVP Andrew R. Harrison sold 6,500 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total value of $249,340.00. Following the completion of the transaction, the executive vice president now directly owns 26,048 shares of the company’s stock, valued at approximately $999,201.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

A number of institutional investors have recently added to or reduced their stakes in ALK. Clearbridge Investments LLC acquired a new stake in Alaska Air Group in the first quarter worth approximately $62,390,000. Wellington Management Group LLP acquired a new stake in Alaska Air Group in the first quarter worth approximately $30,293,000. Norges Bank acquired a new stake in Alaska Air Group in the fourth quarter worth approximately $30,980,000. BlackRock Inc. lifted its position in shares of Alaska Air Group by 9.1% during the 2nd quarter. BlackRock Inc. now owns 7,951,500 shares of the transportation company’s stock valued at $422,861,000 after acquiring an additional 660,917 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Alaska Air Group by 316.5% during the 4th quarter. Point72 Asset Management L.P. now owns 739,350 shares of the transportation company’s stock valued at $28,886,000 after acquiring an additional 561,850 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.