Wolfe Research lowered shares of Alaska Air Group (NYSE:ALK) from an outperform rating to a hold rating in a research note released on Tuesday morning, The Fly reports.
Other equities analysts also recently issued research reports about the stock. Citigroup reduced their price target on shares of Alaska Air Group from $69.00 to $68.00 and set a neutral rating for the company in a report on Monday, June 18th. Stifel Nicolaus reduced their price target on shares of Alaska Air Group from $110.00 to $100.00 and set a buy rating for the company in a report on Friday, July 27th. Buckingham Research reduced their price target on shares of Alaska Air Group from $84.00 to $83.00 and set a buy rating for the company in a report on Monday, September 24th. ValuEngine upgraded shares of Alaska Air Group from a sell rating to a hold rating in a research note on Monday, July 30th. Finally, Imperial Capital cut their price objective on shares of Alaska Air Group from $65.00 to $62.00 and set an inline rating on the stock in a research note on Wednesday, June 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $76.92.
Shares of ALK opened at $61.57 on Tuesday. Alaska Air Group has a 1 year low of $57.53 and a 1 year high of $81.77. The firm has a market cap of $8.48 billion, a PE ratio of 9.27, a PEG ratio of 2.36 and a beta of 0.54. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.71.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, July 26th. The transportation company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.03. Alaska Air Group had a net margin of 10.28% and a return on equity of 16.99%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the company posted $2.48 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Alaska Air Group will post 4.2 earnings per share for the current year.
In related news, EVP Shane R. Tackett sold 3,000 shares of Alaska Air Group stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $66.81, for a total transaction of $200,430.00. Following the sale, the executive vice president now directly owns 8,238 shares in the company, valued at $550,380.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.56% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the business. Camarda Financial Advisors LLC bought a new stake in Alaska Air Group in the second quarter worth about $101,000. Mount Yale Investment Advisors LLC bought a new stake in Alaska Air Group in the first quarter worth about $105,000. Centaurus Financial Inc. bought a new stake in Alaska Air Group in the second quarter worth about $118,000. Asset Management One Co. Ltd. raised its position in Alaska Air Group by 307.9% in the first quarter. Asset Management One Co. Ltd. now owns 2,178 shares of the transportation company’s stock worth $135,000 after acquiring an additional 1,644 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. bought a new stake in Alaska Air Group in the third quarter worth about $209,000. Hedge funds and other 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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