Alaska Air Group (NYSE:ALK – Get Free Report) had its price objective decreased by analysts at UBS Group from $51.00 to $48.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. UBS Group‘s price target points to a potential upside of 25.62% from the company’s current price.
A number of other equities research analysts have also issued reports on ALK. Susquehanna cut their target price on Alaska Air Group from $50.00 to $43.00 and set a “positive” rating on the stock in a research report on Thursday, October 22nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $52.00 price target on shares of Alaska Air Group in a research report on Thursday, October 22nd. Raymond James Financial reissued an “outperform” rating on shares of Alaska Air Group in a research note on Friday, September 25th. Wall Street Zen downgraded Alaska Air Group from a “sell” rating to a “strong sell” rating in a report on Monday, October 5th. Finally, Barclays set a $52.00 price objective on Alaska Air Group and gave the stock an “overweight” rating in a report on Friday, September 11th. Ten analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alaska Air Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.38.
Read Our Latest Stock Analysis on ALK
Alaska Air Group Price Performance
NYSE:ALK traded up $2.50 during trading hours on Monday, reaching $38.21. 4,508,493 shares of the company’s stock were exchanged, compared to its average volume of 3,667,170. The company has a market capitalization of $4.26 billion, a P/E ratio of -10.89 and a beta of 1.33. Alaska Air Group has a 12 month low of $32.33 and a 12 month high of $60.63. The company has a quick ratio of 0.42, a current ratio of 0.46 and a debt-to-equity ratio of 1.49. The business’s 50-day simple moving average is $39.13 and its two-hundred day simple moving average is $44.12.
Alaska Air Group (NYSE:ALK – Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The transportation company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Alaska Air Group had a negative net margin of 2.58% and a negative return on equity of 5.42%. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the prior year, the company posted $1.05 EPS. Alaska Air Group’s quarterly revenue was up 14.4% on a year-over-year basis. Sell-side analysts expect that Alaska Air Group will post -4.19 EPS for the current fiscal year.
Insider Activity at Alaska Air Group
In other Alaska Air Group news, CEO Benito Minicucci bought 25,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was acquired at an average price of $40.06 per share, with a total value of $1,001,500.00. Following the completion of the transaction, the chief executive officer directly owned 256,582 shares in the company, valued at approximately $10,278,674.92. This represents a 10.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Alaska Air Group
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Alaska Air Group during the 2nd quarter valued at about $606,307,000. Dimensional Fund Advisors LP lifted its position in shares of Alaska Air Group by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,348,163 shares of the transportation company’s stock worth $233,463,000 after purchasing an additional 145,484 shares in the last quarter. Primecap Management Co. CA purchased a new stake in shares of Alaska Air Group in the second quarter worth approximately $168,467,000. Bank of New York Mellon Corp purchased a new stake in shares of Alaska Air Group in the second quarter worth approximately $34,776,000. Finally, Bank of America Corp DE acquired a new stake in shares of Alaska Air Group during the second quarter worth approximately $32,751,000. 81.90% of the stock is owned by hedge funds and other institutional investors.
Alaska Air Group Company Profile
Alaska Air Group, Inc is an airline holding company headquartered in Seattle, Washington. Its principal subsidiaries include Alaska Airlines and Hawaiian Airlines, which operate under separate brands while serving passengers throughout North America, the Pacific and other international markets.
Alaska Airlines provides scheduled passenger and air cargo services across the United States, Canada, Mexico, Costa Rica and the Bahamas, with a strong presence on the U.S. West Coast and in Alaska.
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