Alaska Air Group (NYSE:ALK) had its target price cut by Buckingham Research from $88.00 to $84.00 in a research note issued on Tuesday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the transportation company’s stock. Buckingham Research’s price objective indicates a potential upside of 25.94% from the company’s current price.
Several other brokerages have also recently weighed in on ALK. Raymond James upped their price target on shares of Alaska Air Group from $76.00 to $80.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 25th. Susquehanna Bancshares began coverage on shares of Alaska Air Group in a research note on Tuesday, November 19th. They set a “neutral” rating and a $67.00 price objective for the company. JPMorgan Chase & Co. lowered 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 research note on Monday, October 28th. ValuEngine upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Friday, January 10th. Finally, UBS Group began coverage on shares of Alaska Air Group in a research note on Tuesday, November 12th. They set a “neutral” rating and a $75.00 price objective for the company. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $72.21.
Shares of ALK traded up $1.11 during mid-day trading on Tuesday, hitting $66.70. The company’s stock had a trading volume of 481,734 shares, compared to its average volume of 890,475. The company’s 50-day moving average is $67.51 and its 200-day moving average is $65.81. Alaska Air Group has a 52-week low of $53.39 and a 52-week high of $72.22. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.43 and a beta of 0.78. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 0.66.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, October 24th. The transportation company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.11. Alaska Air Group had a net margin of 7.09% and a return on equity of 18.06%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the company earned $1.91 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that Alaska Air Group will post 6.39 earnings per share for the current fiscal year.
In other Alaska Air Group news, CFO Brandon Pedersen sold 3,830 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $71.00, for a total transaction of $271,930.00. Following the transaction, the chief financial officer now owns 23,830 shares in the company, valued at approximately $1,691,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chalmers David 241,186 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. Insiders have sold a total of 6,780 shares of company stock worth $478,761 in the last 90 days. 0.43% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of ALK. Point72 Hong Kong Ltd purchased a new stake in shares of Alaska Air Group in the 2nd quarter valued at $29,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Alaska Air Group in the 3rd quarter valued at $29,000. Griffin Asset Management Inc. purchased a new stake in shares of Alaska Air Group in the 2nd quarter valued at $73,000. Quest Capital Management Inc. ADV purchased a new stake in shares of Alaska Air Group in the 3rd quarter valued at $77,000. Finally, Reilly Financial Advisors LLC boosted its holdings in shares of Alaska Air Group by 471.7% in the 3rd quarter. Reilly Financial Advisors LLC now owns 1,212 shares of the transportation company’s stock valued at $79,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 87.58% 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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