Brokerages Set Alaska Air Group (ALK) PT at $83.77

Alaska Air Group (NYSE:ALK) has earned an average rating of “Hold” from the eighteen analysts that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $83.77.

ALK has been the topic of several research analyst reports. Buckingham Research lowered their price target on shares of Alaska Air Group from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Morgan Stanley increased their price target on shares of Alaska Air Group from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, April 16th. Imperial Capital reissued an “in-line” rating and issued a $71.00 price target (up from $68.00) on shares of Alaska Air Group in a report on Tuesday, April 24th. Citigroup increased their price target on shares of Alaska Air Group from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, April 16th. Finally, UBS cut shares of Alaska Air Group from a “buy” rating to a “neutral” rating in a report on Thursday, February 15th.

In other news, EVP Andrew R. Harrison sold 2,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $64.88, for a total transaction of $152,468.00. Following the transaction, the executive vice president now directly owns 24,092 shares of the company’s stock, valued at $1,563,088.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kyle B. Levine sold 1,503 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $65.00, for a total transaction of $97,695.00. Following the transaction, the vice president now directly owns 7,182 shares in the company, valued at $466,830. The disclosure for this sale can be found here. Insiders have sold 10,213 shares of company stock worth $664,199 over the last ninety days. Insiders own 0.57% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ALK. Bank of Montreal Can boosted its position in shares of Alaska Air Group by 7.9% during the 4th quarter. Bank of Montreal Can now owns 187,024 shares of the transportation company’s stock worth $13,749,000 after acquiring an additional 13,680 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in Alaska Air Group by 5.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 117,702 shares of the transportation company’s stock valued at $8,652,000 after buying an additional 5,683 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Alaska Air Group by 39.6% in the fourth quarter. State of Alaska Department of Revenue now owns 22,321 shares of the transportation company’s stock valued at $1,639,000 after buying an additional 6,330 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Alaska Air Group by 28,224.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,214 shares of the transportation company’s stock valued at $603,000 after buying an additional 8,185 shares in the last quarter. Finally, Lau Associates LLC boosted its position in Alaska Air Group by 51.6% in the fourth quarter. Lau Associates LLC now owns 31,300 shares of the transportation company’s stock valued at $2,301,000 after buying an additional 10,650 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

Shares of ALK stock traded up $2.58 on Friday, reaching $62.45. The stock had a trading volume of 81,397 shares, compared to its average volume of 2,150,852. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.69 and a current ratio of 0.71. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 9.41 and a beta of 0.75. Alaska Air Group has a 12 month low of $57.53 and a 12 month high of $95.75.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Monday, April 23rd. The transportation company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.03. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Alaska Air Group had a net margin of 11.64% and a return on equity of 20.43%. Alaska Air Group’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS. sell-side analysts predict that Alaska Air Group will post 5.29 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 7th. Stockholders of record on Tuesday, May 22nd will be issued a dividend of $0.32 per share. The ex-dividend date is Monday, May 21st. This represents a $1.28 annualized dividend and a dividend yield of 2.05%. Alaska Air Group’s dividend payout ratio is presently 19.28%.

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.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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