Alaska Air Group, Inc. (NYSE:ALK)‘s stock had its “buy” rating restated by equities research analysts at Cowen and Company in a report released on Tuesday. They currently have a $103.00 target price on the transportation company’s stock. Cowen and Company’s price objective suggests a potential upside of 36.26% from the company’s previous close.
A number of other equities analysts also recently weighed in on ALK. Zacks Investment Research downgraded shares of Alaska Air Group from a “hold” rating to a “sell” rating in a report on Tuesday. Morgan Stanley lowered 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 report on Thursday, August 17th. BidaskClub downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Stifel Nicolaus restated a “buy” rating and set a $145.00 target price on shares of Alaska Air Group in a report on Friday, May 26th. Finally, Bank of America Corporation boosted their target price on shares of Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $104.86.
Alaska Air Group (NYSE:ALK) traded up 0.97% on Tuesday, reaching $76.32. 1,197,712 shares of the company were exchanged. The stock has a 50 day moving average of $80.71 and a 200 day moving average of $87.82. The firm has a market capitalization of $9.43 billion, a PE ratio of 12.41 and a beta of 1.00. Alaska Air Group has a 12-month low of $64.19 and a 12-month high of $101.43.
Alaska Air Group (NYSE:ALK) last issued its earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.52 by ($0.01). The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. Alaska Air Group’s quarterly revenue was up 40.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 earnings per share. Equities analysts anticipate that Alaska Air Group will post $7.67 EPS for the current year.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 5,600 shares of the company’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $94.48, for a total value of $529,088.00. Following the transaction, the chairman now directly owns 145,546 shares in the company, valued at $13,751,186.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 2,350 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $86.03, for a total transaction of $202,170.50. Following the completion of the transaction, the executive vice president now owns 21,328 shares in the company, valued at $1,834,847.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,350 shares of company stock worth $937,251. Corporate insiders own 0.57% of the company’s stock.
Several institutional investors have recently made changes to their positions in ALK. Mackenzie Financial Corp bought a new stake in shares of Alaska Air Group in the first quarter valued at about $64,763,000. BlackRock Inc. boosted its position in shares of Alaska Air Group by 4,899.5% in the first quarter. BlackRock Inc. now owns 6,979,699 shares of the transportation company’s stock valued at $643,668,000 after acquiring an additional 6,840,090 shares during the period. Egerton Capital UK LLP bought a new stake in shares of Alaska Air Group in the second quarter valued at about $265,002,000. Principal Financial Group Inc. boosted its position in shares of Alaska Air Group by 149.3% in 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 acquiring an additional 737,020 shares during the period. Finally, AGF Investments Inc. bought a new stake in shares of Alaska Air Group in the first quarter valued at about $67,733,000. 88.34% of the stock is owned by institutional investors.
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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