Alaska Air Group (NYSE:ALK) Given New $78.00 Price Target at Raymond James

Alaska Air Group (NYSE:ALK) had its price objective reduced by stock analysts at Raymond James from $85.00 to $78.00 in a research note issued on Tuesday, The Fly reports. The firm currently has a “strong-buy” rating on the transportation company’s stock. Raymond James’ price target indicates a potential upside of 35.44% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Morgan Stanley dropped their price objective on Alaska Air Group from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Tuesday, June 1st. Wolfe Research raised Alaska Air Group from a “peer perform” rating to an “outperform” rating in a research note on Friday, June 18th. Barclays lifted their price target on Alaska Air Group from $54.00 to $68.00 in a research note on Thursday, April 15th. Zacks Investment Research lowered Alaska Air Group from a “hold” rating to a “sell” rating and set a $75.00 price target for the company. in a research note on Monday, March 22nd. Finally, MKM Partners initiated coverage on Alaska Air Group in a research note on Thursday, June 10th. They set a “buy” rating and a $81.00 price target for the company. One analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $73.92.

NYSE:ALK opened at $57.59 on Tuesday. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of -5.91 and a beta of 1.79. Alaska Air Group has a 52-week low of $33.22 and a 52-week high of $74.25. The company’s fifty day simple moving average is $63.73. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.81.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, April 21st. The transportation company reported ($3.51) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.63) by $0.12. The company had revenue of $797.00 million during the quarter, compared to analyst estimates of $786.52 million. Alaska Air Group had a negative return on equity of 48.26% and a negative net margin of 44.22%. The firm’s quarterly revenue was down 51.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.82) earnings per share. On average, equities analysts predict that Alaska Air Group will post -2.47 earnings per share for the current year.

In other news, Chairman Bradley D. Tilden sold 4,875 shares of the stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $60.60, for a total transaction of $295,425.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jessie J. Knight, Jr. acquired 1,200 shares of Alaska Air Group stock in a transaction dated Tuesday, June 8th. The stock was bought at an average price of $66.26 per share, with a total value of $79,512.00. Following the completion of the purchase, the director now directly owns 4,987 shares in the company, valued at $330,438.62. The disclosure for this purchase can be found here. Insiders have sold a total of 76,337 shares of company stock worth $5,235,901 over the last three months. Insiders own 0.73% of the company’s stock.

Large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in shares of Alaska Air Group by 7.8% in the 1st quarter. Advisors Asset Management Inc. now owns 63,744 shares of the transportation company’s stock worth $4,412,000 after purchasing an additional 4,624 shares in the last quarter. BOKF NA increased its stake in Alaska Air Group by 107.0% in the 1st quarter. BOKF NA now owns 19,157 shares of the transportation company’s stock worth $1,326,000 after buying an additional 9,902 shares in the last quarter. Strs Ohio increased its stake in Alaska Air Group by 165.3% in the 1st quarter. Strs Ohio now owns 143,796 shares of the transportation company’s stock worth $9,952,000 after buying an additional 89,596 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Alaska Air Group by 3.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 100,396 shares of the transportation company’s stock worth $6,948,000 after buying an additional 3,015 shares in the last quarter. Finally, Pinebridge Investments L.P. increased its stake in Alaska Air Group by 43.8% in the 1st quarter. Pinebridge Investments L.P. now owns 66,961 shares of the transportation company’s stock worth $4,634,000 after buying an additional 20,401 shares in the last quarter. Hedge funds and other institutional investors own 77.02% of the company’s stock.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 115 destinations throughout the United States and North America. The company was founded in 1932 and is based in Seattle, Washington.

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