A number of other research analysts have also recently commented on ALK. Citigroup dropped their price target on Alaska Air Group from $73.00 to $69.00 and set a neutral rating for the company in a research note on Tuesday, May 29th. Imperial Capital dropped their price target on Alaska Air Group from $71.00 to $65.00 and set a line rating for the company in a research note on Friday, June 1st. Zacks Investment Research lowered Alaska Air Group from a hold rating to a strong sell rating in a research report on Tuesday, July 10th. Morgan Stanley lowered their target price on Alaska Air Group from $80.00 to $77.00 and set an overweight rating for the company in a research report on Thursday, July 12th. Finally, Barclays lowered their target price on Alaska Air Group from $80.00 to $68.00 and set an equal weight rating for the company in a research report on Monday, July 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Alaska Air Group currently has an average rating of Hold and an average price target of $76.92.
Shares of ALK stock traded up $1.76 during trading hours on Wednesday, reaching $61.57. The company’s stock had a trading volume of 3,093,082 shares, compared to its average volume of 2,133,158. The company has a market cap of $8.48 billion, a PE ratio of 9.27, a P/E/G ratio of 2.36 and a beta of 0.54. Alaska Air Group has a fifty-two week low of $57.53 and a fifty-two week high of $81.77. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.71 and a current ratio of 0.73.
Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, July 26th. The transportation company reported $1.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.03. Alaska Air Group had a return on equity of 16.99% and a net margin of 10.28%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the business posted $2.48 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Alaska Air Group will post 4.2 EPS for the current fiscal year.
In other news, EVP Shane R. Tackett sold 3,000 shares of Alaska Air Group stock in a transaction dated 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 transaction, the executive vice president now directly owns 8,238 shares of the company’s stock, valued at approximately $550,380.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.56% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ALK. Diamond Hill Capital Management Inc. grew its stake in shares of Alaska Air Group by 248.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 960,848 shares of the transportation company’s stock valued at $58,026,000 after buying an additional 685,374 shares during the period. Strs Ohio acquired a new stake in shares of Alaska Air Group in the 2nd quarter valued at about $36,234,000. Point72 Asset Management L.P. acquired a new stake in shares of Alaska Air Group in the 2nd quarter valued at about $29,884,000. Thompson Siegel & Walmsley LLC grew its stake in shares of Alaska Air Group by 27.2% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,719,802 shares of the transportation company’s stock valued at $103,859,000 after buying an additional 367,895 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Alaska Air Group by 102.0% in the 1st quarter. JPMorgan Chase & Co. now owns 697,647 shares of the transportation company’s stock valued at $43,226,000 after buying an additional 352,335 shares during the period. Institutional investors own 88.72% of the company’s stock.
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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