UBS Group Cuts Alaska Air Group (NYSE:ALK) Price Target to $83.00

Alaska Air Group (NYSE:ALK) had its price target trimmed by UBS Group from $90.00 to $83.00 in a report issued on Monday, Marketbeat reports. The firm currently has a buy rating on the transportation company’s stock.

ALK has been the topic of a number of other research reports. Susquehanna set a $58.00 price objective on Alaska Air Group and gave the company a “positive” rating in a report on Friday, October 3rd. Barclays upped their target price on Alaska Air Group from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Raymond James Financial set a $68.00 target price on Alaska Air Group and gave the company an “outperform” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. upped their target price on Alaska Air Group from $73.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Finally, Evercore ISI decreased their target price on Alaska Air Group from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, September 16th. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Alaska Air Group currently has an average rating of “Moderate Buy” and an average price target of $73.55.

Alaska Air Group Trading Down 2.9%

ALK opened at $41.75 on Monday. Alaska Air Group has a one year low of $39.79 and a one year high of $78.08. The company has a market cap of $4.81 billion, a P/E ratio of 33.67, a PEG ratio of 0.80 and a beta of 1.40. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.49 and a current ratio of 0.52. The business’s 50-day simple moving average is $54.05 and its 200-day simple moving average is $51.80.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, October 23rd. The transportation company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.06). Alaska Air Group had a net margin of 1.06% and a return on equity of 8.93%. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the company posted $2.25 EPS. The company’s revenue was up 22.6% compared to the same quarter last year. As a group, equities research analysts expect that Alaska Air Group will post 6.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Alaska Air Group news, CFO Shane R. Tackett sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $57.06, for a total transaction of $285,300.00. Following the completion of the sale, the chief financial officer directly owned 43,335 shares of the company’s stock, valued at approximately $2,472,695.10. This trade represents a 10.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kyle B. Levine sold 5,914 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $57.75, for a total value of $341,533.50. Following the sale, the senior vice president directly owned 20,917 shares of the company’s stock, valued at $1,207,956.75. The trade was a 22.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alaska Air Group

A number of large investors have recently modified their holdings of ALK. Brighton Jones LLC raised its stake in shares of 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. GAMMA Investing LLC raised its stake in shares of Alaska Air Group by 16.5% during the 1st quarter. GAMMA Investing LLC now owns 4,033 shares of the transportation company’s stock worth $199,000 after buying an additional 571 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Alaska Air Group by 2.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,160 shares of the transportation company’s stock worth $1,238,000 after buying an additional 713 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Alaska Air Group by 113.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,310 shares of the transportation company’s stock worth $852,000 after buying an additional 9,205 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Alaska Air Group by 416.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,499 shares of the transportation company’s stock worth $1,501,000 after buying an additional 24,592 shares in the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

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.