Alaska Air Group (NYSE:ALK) Rating Lowered to “Sell” at Wall Street Zen

Alaska Air Group (NYSE:ALK) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other analysts have also commented on the company. TD Cowen increased their price objective on Alaska Air Group from $61.00 to $65.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Susquehanna set a $58.00 price target on Alaska Air Group and gave the company a “positive” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Alaska Air Group in a research note on Wednesday, October 8th. UBS Group dropped their price target on shares of Alaska Air Group from $90.00 to $83.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Finally, Raymond James Financial set a $65.00 target price on Alaska Air Group and gave the company an “outperform” rating in a report on Monday, October 27th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.08.

Alaska Air Group Stock Performance

Shares of NYSE:ALK opened at $42.96 on Friday. The firm has a fifty day simple moving average of $51.40 and a two-hundred day simple moving average of $51.67. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 1.12. Alaska Air Group has a 52 week low of $39.79 and a 52 week high of $78.08. The stock has a market capitalization of $4.95 billion, a P/E ratio of 34.64, a PEG ratio of 0.80 and a beta of 1.41.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, October 23rd. The transportation company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.06). The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. Alaska Air Group had a return on equity of 8.93% and a net margin of 1.06%.Alaska Air Group’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.25 earnings per share. On average, analysts expect that Alaska Air Group will post 6.03 earnings per share 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 business’s 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 transaction, the chief financial officer owned 43,335 shares of the company’s stock, valued at $2,472,695.10. The trade was a 10.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kyle B. Levine sold 5,914 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $57.75, for a total value of $341,533.50. Following the completion of the sale, the senior vice president directly owned 20,917 shares of the company’s stock, valued at approximately $1,207,956.75. The trade was a 22.04% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alaska Air Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. MAI Capital Management raised its stake in Alaska Air Group by 80.5% in the second quarter. MAI Capital Management now owns 628 shares of the transportation company’s stock valued at $31,000 after buying an additional 280 shares during the period. Brooklyn Investment Group lifted its holdings in Alaska Air Group by 41.1% during the 1st quarter. Brooklyn Investment Group now owns 632 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 184 shares during the last quarter. AlphaQuest LLC bought a new position in Alaska Air Group during the third quarter worth $34,000. Smartleaf Asset Management LLC increased its holdings in shares of Alaska Air Group by 43.2% in the third quarter. Smartleaf Asset Management LLC now owns 838 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 253 shares during the last quarter. Finally, Country Trust Bank bought a new position in shares of Alaska Air Group in the third quarter valued at about $45,000. 81.90% of the stock is owned by institutional investors.

About Alaska Air Group

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.