Analysts Set Alaska Air Group, Inc. (ALK) PT at $86.65

Shares of Alaska Air Group, Inc. (NYSE:ALK) have earned a consensus recommendation of “Buy” from the seventeen analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation, eight have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $86.65.

Several research analysts have recently commented on the company. Imperial Capital reiterated an “in-line” rating and issued a $66.00 target price (down previously from $70.00) on shares of Alaska Air Group in a research report on Thursday, February 1st. JPMorgan Chase & Co. lowered Alaska Air Group from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $65.48 to $67.00 in a research report on Tuesday, January 30th. Buckingham Research reduced their price objective on Alaska Air Group from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Morgan Stanley reduced their price objective on Alaska Air Group from $86.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Finally, Cowen restated an “outperform” rating and set a $84.00 price objective (down previously from $93.00) on shares of Alaska Air Group in a research report on Friday, January 26th.

Shares of Alaska Air Group (ALK) traded down $0.16 on Friday, hitting $66.73. The stock had a trading volume of 2,205,001 shares, compared to its average volume of 3,249,178. The firm has a market cap of $8,230.00, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 3.40 and a beta of 0.85. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.61. Alaska Air Group has a one year low of $59.25 and a one year high of $101.43.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, January 25th. The transportation company reported $0.83 EPS for the quarter, hitting the consensus estimate of $0.83. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. Alaska Air Group had a return on equity of 24.40% and a net margin of 12.96%. The business’s revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.56 EPS. sell-side analysts forecast that Alaska Air Group will post 5.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.28 annualized dividend and a yield of 1.92%. This is an increase from Alaska Air Group’s previous quarterly dividend of $0.30. Alaska Air Group’s payout ratio is presently 14.48%.

In other Alaska Air Group news, CEO David L. Campbell sold 4,934 shares of Alaska Air Group stock in a transaction on Monday, December 4th. The stock was sold at an average price of $68.00, for a total transaction of $335,512.00. Following the sale, the chief executive officer now owns 9,648 shares of the company’s stock, valued at approximately $656,064. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 540 shares of Alaska Air Group stock in a transaction on Monday, November 27th. The shares were sold at an average price of $65.53, for a total value of $35,386.20. Following the sale, the executive vice president now directly owns 20,788 shares in the company, valued at approximately $1,362,237.64. The disclosure for this sale can be found here. Insiders have sold a total of 5,934 shares of company stock worth $415,518 in the last ninety days. 0.57% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in ALK. OppenheimerFunds Inc. raised its stake in Alaska Air Group by 12,449.2% during the 4th quarter. OppenheimerFunds Inc. now owns 1,560,244 shares of the transportation company’s stock valued at $114,693,000 after acquiring an additional 1,547,811 shares in the last quarter. Egerton Capital UK LLP raised its stake in Alaska Air Group by 51.6% during the 3rd quarter. Egerton Capital UK LLP now owns 4,476,494 shares of the transportation company’s stock valued at $341,422,000 after acquiring an additional 1,524,149 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Alaska Air Group during the 2nd quarter valued at $57,891,000. BlackRock Inc. raised its stake in Alaska Air Group by 9.3% during the 4th quarter. BlackRock Inc. now owns 7,310,003 shares of the transportation company’s stock valued at $537,358,000 after acquiring an additional 621,021 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in Alaska Air Group by 540.5% during the 4th quarter. Two Sigma Advisers LP now owns 685,616 shares of the transportation company’s stock valued at $50,400,000 after acquiring an additional 578,574 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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Alaska Air Group Company Profile

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.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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