Barclays cut shares of Alaska Air Group (NYSE:ALK) from an overweight rating to an equal weight rating in a research report report published on Wednesday, Marketbeat.com reports. The firm currently has $80.00 target price on the transportation company’s stock, down from their previous target price of $90.00.
A number of other equities research analysts have also recently commented on the company. UBS Group upgraded Alaska Air Group from an outperform rating to a strong-buy rating in a report on Wednesday, November 15th. Raymond James Financial upgraded Alaska Air Group from an outperform rating to a strong-buy rating and lowered their target price for the company from $85.00 to $80.00 in a report on Wednesday, November 15th. Bank of America lowered their target price on Alaska Air Group from $100.00 to $96.00 and set a buy rating on the stock in a report on Friday, October 13th. Zacks Investment Research cut Alaska Air Group from a hold rating to a sell rating in a report on Tuesday, September 12th. Finally, JPMorgan Chase & Co. cut Alaska Air Group from an overweight rating to a neutral rating and set a $74.00 target price on the stock. in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $88.89.
Shares of Alaska Air Group (ALK) traded down $1.29 during trading hours on Wednesday, reaching $73.52. The company’s stock had a trading volume of 2,945,425 shares, compared to its average volume of 1,730,000. The firm has a market cap of $9,050.00, a PE ratio of 11.78 and a beta of 1.03. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. 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 announced its earnings results on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.02). The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.13 billion. Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. Alaska Air Group’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 EPS. equities analysts anticipate that Alaska Air Group will post 6.65 EPS for the current year.
In other Alaska Air Group news, EVP Andrew R. Harrison sold 540 shares of the stock in a transaction on Monday, November 27th. The stock was 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 of the company’s stock, valued at approximately $1,362,237.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David L. Campbell sold 4,934 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $68.00, for a total value of $335,512.00. Following the transaction, the chief executive officer now directly owns 9,648 shares in the company, valued at approximately $656,064. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.
Several institutional investors have recently modified their holdings of ALK. Egerton Capital UK LLP lifted its stake in shares of Alaska Air Group by 51.6% during the 3rd quarter. Egerton Capital UK LLP now owns 4,476,494 shares of the transportation company’s stock worth $341,422,000 after purchasing an additional 1,524,149 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Alaska Air Group during the 2nd quarter worth $57,891,000. Ardevora Asset Management LLP purchased a new position in shares of Alaska Air Group in the 3rd quarter worth $33,124,000. Lateef Investment Management L.P. purchased a new position in shares of Alaska Air Group in the 3rd quarter worth $24,256,000. Finally, Victory Capital Management Inc. raised its position in shares of Alaska Air Group by 67.2% in the 3rd quarter. Victory Capital Management Inc. now owns 783,102 shares of the transportation company’s stock worth $59,728,000 after buying an additional 314,673 shares during the period. 88.57% of the stock is currently owned by institutional investors.
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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