Alaska Air Group, Inc. (NYSE:ALK) was upgraded by research analysts at Raymond James Financial, Inc. from an “outperform” rating to a “strong-buy” rating in a research report issued on Wednesday.
Several other research analysts have also recently issued reports on ALK. UBS AG raised Alaska Air Group from an “outperform” rating to a “strong-buy” rating in a report on Wednesday. Barclays PLC reaffirmed a “buy” rating on shares of Alaska Air Group in a report on Thursday, September 14th. BidaskClub downgraded shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Morgan Stanley cut their target price on shares of Alaska Air Group from $101.00 to $96.00 and set an “overweight” rating on the stock in a research note on Thursday, August 17th. Finally, Cowen and Company cut their target price on shares of Alaska Air Group from $100.00 to $89.00 and set an “outperform” rating on the stock in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. Alaska Air Group presently has a consensus rating of “Buy” and a consensus price target of $92.34.
Alaska Air Group (NYSE ALK) traded down $0.04 during midday trading on Wednesday, hitting $61.68. The company’s stock had a trading volume of 1,670,200 shares, compared to its average volume of 1,456,650. The company has a market capitalization of $7,594.33, a PE ratio of 8.39 and a beta of 1.01. Alaska Air Group has a 52 week low of $61.36 and a 52 week high of $101.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $2.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 net margin of 10.34% and a return on equity of 28.74%. Alaska Air Group’s quarterly revenue was up 35.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. sell-side analysts predict that Alaska Air Group will post 6.8 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in ALK. Egerton Capital UK LLP acquired a new position in shares of Alaska Air Group during the second quarter valued at about $265,002,000. Principal Financial Group Inc. raised its position in shares of Alaska Air Group by 149.3% during the second quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock valued at $110,457,000 after buying an additional 737,020 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Alaska Air Group during the second quarter valued at about $57,891,000. State of New Jersey Common Pension Fund D raised its position in shares of Alaska Air Group by 900.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 500,000 shares of the transportation company’s stock valued at $44,880,000 after buying an additional 450,000 shares during the last quarter. Finally, Ardevora Asset Management LLP acquired a new position in shares of Alaska Air Group during the third quarter valued at about $33,124,000. 89.33% of the stock is owned by institutional investors and hedge funds.
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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