Alaska Air Group (NYSE:ALK) posted its quarterly earnings results on Monday. The transportation company reported ($2.55) EPS for the quarter, topping the consensus estimate of ($2.91) by $0.36, MarketWatch Earnings reports. The business had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $813.37 million. Alaska Air Group had a negative net margin of 13.96% and a negative return on equity of 19.39%. The firm’s quarterly revenue was down 63.7% compared to the same quarter last year. During the same period last year, the company posted $1.46 earnings per share.
Alaska Air Group stock traded down $2.38 on Wednesday, hitting $49.45. The company’s stock had a trading volume of 48,725 shares, compared to its average volume of 1,818,592. The firm has a market cap of $6.12 billion, a P/E ratio of -9.06 and a beta of 1.81. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average price of $51.80 and a 200-day moving average price of $43.02. Alaska Air Group has a one year low of $20.02 and a one year high of $67.48.
A number of analysts have issued reports on ALK shares. Raymond James lifted their target price on shares of Alaska Air Group from $50.00 to $65.00 and gave the company a “strong-buy” rating in a research note on Monday, November 30th. Morgan Stanley lifted their target price on shares of Alaska Air Group from $46.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, October 23rd. Zacks Investment Research upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating and set a $58.00 target price for the company in a research note on Friday, January 22nd. Cfra raised shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research report on Friday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alaska Air Group from $55.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Alaska Air Group presently has a consensus rating of “Buy” and a consensus price target of $53.25.
In other news, insider Benito Minicucci sold 10,000 shares of the business’s stock in a transaction on Monday, December 28th. The shares were sold at an average price of $52.95, for a total value of $529,500.00. Following the sale, the insider now owns 95,908 shares in the company, valued at approximately $5,078,328.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shane R. Tackett sold 2,500 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $38.22, for a total transaction of $95,550.00. Following the completion of the sale, the chief financial officer now owns 11,174 shares in the company, valued at approximately $427,070.28. The disclosure for this sale can be found here. Insiders sold a total of 13,130 shares of company stock worth $659,102 in the last three months. Insiders own 0.47% 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 1,300 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.
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