StockNews.com Upgrades Alaska Air Group (NYSE:ALK) to Hold

StockNews.com upgraded shares of Alaska Air Group (NYSE:ALK) from a sell rating to a hold rating in a report released on Friday.

A number of other research analysts also recently commented on ALK. TD Cowen increased their price objective on shares of Alaska Air Group from $49.00 to $58.00 and gave the company a buy rating in a research note on Friday. Bank of America lifted their price target on Alaska Air Group from $50.00 to $56.00 and gave the stock a buy rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upgraded Alaska Air Group from a hold rating to a buy rating and upped their price objective for the company from $44.00 to $51.00 in a research note on Tuesday, February 20th. Melius downgraded Alaska Air Group from a buy rating to a hold rating in a report on Monday, January 8th. Finally, UBS Group initiated coverage on Alaska Air Group in a report on Wednesday, March 20th. They issued a buy rating and a $54.00 price target for the company. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $57.85.

Alaska Air Group Trading Up 1.2 %

NYSE:ALK opened at $45.53 on Friday. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 0.90 and a beta of 1.63. Alaska Air Group has a one year low of $30.75 and a one year high of $57.18. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.63 and a current ratio of 0.65. The business’s 50-day simple moving average is $39.84 and its 200 day simple moving average is $37.31.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.09) by $0.17. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.18 billion. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. Alaska Air Group’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.62) EPS. As a group, sell-side analysts predict that Alaska Air Group will post 4.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 6,500 shares of Alaska Air Group 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 owns 26,048 shares of the company’s stock, valued at $999,201.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its stake in shares of Alaska Air Group by 1,676.8% during the fourth quarter. International Assets Investment Management LLC now owns 149,089 shares of the transportation company’s stock valued at $58,250,000 after purchasing an additional 140,698 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Alaska Air Group by 16.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,554,257 shares of the transportation company’s stock worth $94,712,000 after buying an additional 358,749 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Alaska Air Group in the 4th quarter worth approximately $2,813,000. Bank of New York Mellon Corp lifted its stake in shares of Alaska Air Group by 6.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,213,630 shares of the transportation company’s stock worth $45,001,000 after acquiring an additional 71,726 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Alaska Air Group by 63.4% in the third quarter. Deutsche Bank AG now owns 366,619 shares of the transportation company’s stock valued at $13,594,000 after acquiring an additional 142,310 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Company Profile

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.