UBS Group Begins Coverage on Alaska Air Group (NYSE:ALK)

Equities research analysts at UBS Group assumed coverage on shares of Alaska Air Group (NYSE:ALK) in a research note issued on Monday. The brokerage set a “neutral” rating and a $49.00 price target on the transportation company’s stock. UBS Group’s price objective indicates a potential downside of 3.94% from the company’s current price.

Several other brokerages have also recently issued reports on ALK. TD Cowen upped their price target on shares of Alaska Air Group from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Citigroup lowered their price objective on shares of Alaska Air Group from $83.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Barclays decreased their target price on Alaska Air Group from $62.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Susquehanna dropped their price target on shares of Alaska Air Group from $95.00 to $55.00 and set a “positive” rating on the stock in a research report on Monday, April 7th. Finally, Bank of America lowered their price target on Alaska Air Group from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.42.

Alaska Air Group Trading Up 0.3%

Shares of NYSE:ALK opened at $51.01 on Monday. The company’s fifty day simple moving average is $49.95 and its 200 day simple moving average is $57.27. Alaska Air Group has a 12 month low of $32.62 and a 12 month high of $78.08. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 0.53 and a beta of 1.41. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 1.05.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.05). Alaska Air Group had a return on equity of 15.01% and a net margin of 2.86%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the firm earned ($0.92) earnings per share. The company’s revenue for the quarter was up 40.5% compared to the same quarter last year. As a group, research analysts forecast that Alaska Air Group will post 6.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alaska Air Group news, VP Emily Halverson sold 2,946 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $51.34, for a total transaction of $151,247.64. Following the sale, the vice president directly owned 8,253 shares of the company’s stock, valued at approximately $423,709.02. This trade represents a 26.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew R. Harrison sold 7,500 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $53.51, for a total transaction of $401,325.00. Following the sale, the executive vice president directly owned 26,530 shares in the company, valued at approximately $1,419,620.30. The trade was a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,479 shares of company stock worth $554,228 over the last quarter. Company insiders own 0.92% of the company’s stock.

Institutional Trading of Alaska Air Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in Alaska Air Group by 2,046.4% during the 4th quarter. Brighton Jones LLC now owns 96,932 shares of the transportation company’s stock worth $6,276,000 after buying an additional 92,416 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Alaska Air Group by 1.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 19,229 shares of the transportation company’s stock valued at $1,245,000 after purchasing an additional 254 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Alaska Air Group by 77.8% during the fourth quarter. Jones Financial Companies Lllp now owns 5,221 shares of the transportation company’s stock worth $338,000 after purchasing an additional 2,284 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Alaska Air Group in the 4th quarter worth $52,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Alaska Air Group by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,432,052 shares of the transportation company’s stock worth $92,725,000 after acquiring an additional 9,805 shares during the period. 81.90% of the stock is owned by institutional investors and hedge funds.

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.