Wall Street Zen upgraded shares of Alaska Air Group (NYSE:ALK – Free Report) from a strong sell rating to a sell rating in a research note released on Sunday,Wall Street Zen reports.
ALK has been the subject of a number of other research reports. Susquehanna increased their price objective on Alaska Air Group from $50.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, July 7th. UBS Group restated a “buy” rating and set a $54.00 target price (up from $52.00) on shares of Alaska Air Group in a report on Tuesday, September 22nd. Weiss Ratings downgraded shares of Alaska Air Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 18th. BMO Capital Markets increased their price target on shares of Alaska Air Group from $55.00 to $62.50 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Alaska Air Group from $94.00 to $92.00 and set an “overweight” rating on the stock in a research note on Friday, July 24th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.27.
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Alaska Air Group Stock Performance
Alaska Air Group (NYSE:ALK – Get Free Report) last announced its earnings results on Tuesday, July 21st. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.09 billion. Alaska Air Group had a negative return on equity of 3.11% and a negative net margin of 1.19%.The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.42 EPS. Alaska Air Group has set its Q3 2026 guidance at 0.000-1.000 EPS. As a group, analysts expect that Alaska Air Group will post -1.86 earnings per share for the current fiscal year.
Insider Buying and Selling at Alaska Air Group
In related news, CEO Benito Minicucci purchased 25,000 shares of Alaska Air Group stock in a transaction dated Thursday, August 20th. The stock was purchased at an average cost of $40.06 per share, for a total transaction of $1,001,500.00. Following the completion of the acquisition, the chief executive officer directly owned 256,582 shares of the company’s stock, valued at $10,278,674.92. The trade was a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 5,300 shares of Alaska Air Group stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $49.67, for a total value of $263,251.00. Following the completion of the transaction, the executive vice president directly owned 25,528 shares of the company’s stock, valued at approximately $1,267,975.76. This represents a 17.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company’s stock.
Hedge Funds Weigh In On Alaska Air Group
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Alaska Air Group in the second quarter worth approximately $606,307,000. Primecap Management Co. CA bought a new stake in shares of Alaska Air Group during the second quarter valued at approximately $168,467,000. Capital Research Global Investors raised its holdings in Alaska Air Group by 86.8% in the 4th quarter. Capital Research Global Investors now owns 3,175,350 shares of the transportation company’s stock worth $159,720,000 after acquiring an additional 1,475,350 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Alaska Air Group in the 2nd quarter valued at approximately $34,776,000. Finally, Bank of America Corp DE bought a new position in Alaska Air Group in the 2nd quarter valued at approximately $32,751,000. Institutional investors own 81.90% of the company’s stock.
About Alaska Air Group
Alaska Air Group, Inc is an airline holding company whose principal subsidiaries include Alaska Airlines, Hawaiian Airlines and regional carrier Horizon Air. The company provides scheduled passenger and air cargo transportation, along with related services such as aircraft maintenance and ground handling through affiliated businesses.
Alaska Airlines serves destinations throughout the United States, Canada, Mexico, Costa Rica and other parts of North America, while Hawaiian Airlines connects the Hawaiian Islands with the U.S.
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