Susquehanna Bancshares assumed coverage on shares of Alaska Air Group (NYSE:ALK) in a research report sent to investors on Tuesday morning, Briefing.com Automated Import reports. The brokerage issued a neutral rating and a $67.00 price target on the transportation company’s stock.
A number of other brokerages have also issued reports on ALK. Imperial Capital reiterated an in-line rating and set a $70.00 price target (up previously from $68.00) on shares of Alaska Air Group in a research report on Tuesday, August 6th. TheStreet raised Alaska Air Group from a c rating to a b rating in a report on Thursday, July 25th. Macquarie downgraded shares of Alaska Air Group from an outperform rating to a neutral rating and reduced their price objective for the stock from $79.00 to $63.00 in a report on Monday, July 29th. JPMorgan Chase & Co. downgraded shares of Alaska Air Group from an overweight rating to a neutral rating and reduced their price objective for the stock from $79.00 to $76.00 in a report on Monday, October 28th. Finally, Citigroup set a $66.00 target price on shares of Alaska Air Group and gave the company a hold rating in a research report on Friday, July 26th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $72.50.
NYSE:ALK traded down $1.63 during mid-day trading on Tuesday, hitting $68.44. The stock had a trading volume of 789,041 shares, compared to its average volume of 1,221,293. Alaska Air Group has a 52 week low of $53.39 and a 52 week high of $74.83. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 0.57 and a beta of 0.82. The company has a 50 day simple moving average of $68.20 and a 200-day simple moving average of $63.83.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, October 24th. The transportation company reported $2.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.52 by $0.11. Alaska Air Group had a return on equity of 18.06% and a net margin of 7.09%. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the firm posted $1.91 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts anticipate that Alaska Air Group will post 6.34 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, November 19th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, November 18th. Alaska Air Group’s dividend payout ratio is presently 31.39%.
In other Alaska Air Group news, VP Andrea L. Schneider sold 1,450 shares of Alaska Air Group stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $70.28, for a total value of $101,906.00. Following the transaction, the vice president now owns 10,268 shares in the company, valued at $721,635.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brandon Pedersen sold 4,024 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $67.01, for a total value of $269,648.24. Following the completion of the transaction, the chief financial officer now directly owns 22,500 shares in the company, valued at approximately $1,507,725. The disclosure for this sale can be found here. Insiders sold a total of 10,804 shares of company stock worth $748,409 in the last three months. Company insiders own 0.43% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Hi Line Capital Management LLC lifted its position in shares of Alaska Air Group by 0.4% in the 3rd quarter. Hi Line Capital Management LLC now owns 91,194 shares of the transportation company’s stock valued at $5,919,000 after acquiring an additional 355 shares in the last quarter. D.A. Davidson & CO. grew its stake in Alaska Air Group by 26.3% during the 3rd quarter. D.A. Davidson & CO. now owns 153,241 shares of the transportation company’s stock valued at $9,947,000 after acquiring an additional 31,932 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Alaska Air Group by 2.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 622,050 shares of the transportation company’s stock worth $40,378,000 after purchasing an additional 14,202 shares during the period. AMG National Trust Bank boosted its holdings in shares of Alaska Air Group by 3.2% during the third quarter. AMG National Trust Bank now owns 15,789 shares of the transportation company’s stock worth $1,025,000 after purchasing an additional 492 shares during the period. Finally, Mengis Capital Management Inc. grew its position in Alaska Air Group by 5.2% during the third quarter. Mengis Capital Management Inc. now owns 10,200 shares of the transportation company’s stock valued at $662,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.
About Alaska Air Group
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 has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.
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