Stifel Nicolaus Reiterates “Buy” Rating for Alaska Air Group (ALK)

Alaska Air Group (NYSE:ALK)‘s stock had its “buy” rating reaffirmed by analysts at Stifel Nicolaus in a report issued on Wednesday. They currently have a $105.00 price objective on the transportation company’s stock, down from their previous price objective of $115.00. Stifel Nicolaus’ price objective points to a potential upside of 42.82% from the company’s current price.

Several other analysts have also weighed in on the stock. Barclays lowered shares of Alaska Air Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $90.00 to $80.00 in a research note on Wednesday. Bank of America lowered shares of Alaska Air Group from a “buy” rating to a “neutral” rating and set a $84.00 target price for the company. in a research note on Tuesday. Zacks Investment Research upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Standpoint Research assumed coverage on shares of Alaska Air Group in a research note on Monday, December 18th. They set a “buy” rating and a $90.00 target price for the company. Finally, ValuEngine upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and three have given a strong buy rating to the company’s 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, hitting $73.52. 2,945,425 shares of the company were exchanged, compared to its average volume of 1,730,000. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $9,050.00, a price-to-earnings ratio of 11.78 and a beta of 1.03. Alaska Air Group has a fifty-two week low of $61.10 and a fifty-two week high of $101.43.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, October 25th. The transportation company reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.02). The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 35.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS. analysts forecast that Alaska Air Group will post 6.65 earnings per share for the current fiscal year.

In other news, CEO David L. Campbell sold 4,934 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $68.00, for a total transaction of $335,512.00. Following the completion of the transaction, the chief executive officer now owns 9,648 shares in the company, valued at $656,064. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 540 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in ALK. Pacer Advisors Inc. grew its position in shares of Alaska Air Group by 8.1% during the second quarter. Pacer Advisors Inc. now owns 2,405 shares of the transportation company’s stock worth $216,000 after acquiring an additional 181 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Alaska Air Group by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,183 shares of the transportation company’s stock worth $824,000 after acquiring an additional 24 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Alaska Air Group by 2.2% during the second quarter. Alliancebernstein L.P. now owns 226,779 shares of the transportation company’s stock worth $20,356,000 after acquiring an additional 4,917 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Alaska Air Group by 10.8% during the second quarter. Ameriprise Financial Inc. now owns 1,491,104 shares of the transportation company’s stock worth $133,835,000 after acquiring an additional 145,328 shares during the last quarter. Finally, Norinchukin Bank The grew its position in shares of Alaska Air Group by 6.9% during the second quarter. Norinchukin Bank The now owns 8,577 shares of the transportation company’s stock worth $770,000 after acquiring an additional 554 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

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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.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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