Stifel Nicolaus reaffirmed their buy rating on shares of Alaska Air Group (NYSE:ALK) in a research report report published on Wednesday morning, Marketbeat.com reports. They currently have a $105.00 target price on the transportation company’s stock, down from their previous target price of $115.00.
A number of other research firms have also weighed in on ALK. Bank of America cut their target price on shares of Alaska Air Group from $100.00 to $96.00 and set a buy rating for the company in a research report on Friday, October 13th. Zacks Investment Research raised shares of Alaska Air Group from a sell rating to a hold rating in a research report on Tuesday, December 26th. Morgan Stanley reissued an overweight rating on shares of Alaska Air Group in a research report on Monday, September 18th. Macquarie started coverage on shares of Alaska Air Group in a research report on Monday, September 25th. They set an outperform rating and a $94.00 target price for the company. Finally, Standpoint Research started coverage on shares of Alaska Air Group in a report on Monday, December 18th. They set a buy rating and a $90.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. Alaska Air Group has an average rating of Buy and an average price target of $88.89.
Alaska Air Group (NYSE ALK) traded down $1.29 during trading on Wednesday, reaching $73.52. 2,945,425 shares of the company’s stock were exchanged, compared to its average volume of 1,730,000. The firm has a market cap of $9,050.00, a price-to-earnings ratio of 11.78 and a beta of 1.03. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 0.80. Alaska Air Group has a 52-week low of $61.10 and a 52-week high of $101.43.
Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, October 25th. The transportation company reported $2.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.26 by ($0.02). The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.13 billion. Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The firm’s revenue was up 35.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 EPS. analysts forecast that Alaska Air Group will post 6.65 earnings per share for the current year.
In other news, EVP Andrew R. Harrison sold 540 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $65.53, for a total transaction of $35,386.20. Following the transaction, the executive vice president now owns 20,788 shares in the company, valued at approximately $1,362,237.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David L. Campbell sold 4,934 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $68.00, for a total transaction of $335,512.00. Following the transaction, the chief executive officer now owns 9,648 shares in the company, valued at approximately $656,064. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mercer Capital Advisers Inc. bought a new stake in Alaska Air Group in the third quarter valued at about $116,000. Mountain Capital Investment Advisors Inc bought a new stake in Alaska Air Group in the second quarter valued at about $122,000. Bank of Nova Scotia Trust Co. bought a new stake in Alaska Air Group in the third quarter valued at about $153,000. Harbour Capital Advisors LLC bought a new stake in Alaska Air Group in the third quarter valued at about $200,000. Finally, Tocqueville Asset Management L.P. bought a new stake in Alaska Air Group in the third quarter valued at about $207,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.
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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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