Alaska Air Group (NYSE:ALK) Announces Earnings Results

Alaska Air Group (NYSE:ALK) issued its earnings results on Thursday. The transportation company reported ($0.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.17, RTT News reports. Alaska Air Group had a return on equity of 14.72% and a net margin of 2.25%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the firm earned ($0.62) EPS. Alaska Air Group’s revenue was up 1.6% on a year-over-year basis.

Alaska Air Group Stock Up 1.3 %

Shares of ALK opened at $45.02 on Friday. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 0.86 and a beta of 1.63. Alaska Air Group has a 1 year low of $30.75 and a 1 year high of $57.18. The business’s 50 day simple moving average is $39.68 and its 200-day simple moving average is $37.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.61 and a quick ratio of 0.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Evercore ISI boosted their price target on Alaska Air Group from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Bank of America boosted their price target on Alaska Air Group from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Friday. UBS Group initiated coverage on Alaska Air Group in a research note on Wednesday, March 20th. They set a “buy” rating and a $54.00 price target for the company. Susquehanna boosted their price objective on Alaska Air Group from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Friday. Finally, StockNews.com upgraded Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Insider Transactions at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the sale, the executive vice president now directly owns 26,048 shares of the company’s stock, valued at approximately $999,201.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.68% of the company’s stock.

Institutional Trading of Alaska Air Group

Several hedge funds and other institutional investors have recently bought and sold shares of ALK. Clearbridge Investments LLC purchased a new stake in Alaska Air Group during the 1st quarter valued at $62,390,000. Wellington Management Group LLP purchased a new stake in Alaska Air Group during the 1st quarter valued at $30,293,000. Norges Bank bought a new position in Alaska Air Group in the 4th quarter valued at $30,980,000. BlackRock Inc. grew its position in shares of Alaska Air Group by 9.1% during the 2nd quarter. BlackRock Inc. now owns 7,951,500 shares of the transportation company’s stock worth $422,861,000 after buying an additional 660,917 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Alaska Air Group by 316.5% during the 4th quarter. Point72 Asset Management L.P. now owns 739,350 shares of the transportation company’s stock worth $28,886,000 after buying an additional 561,850 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.