Shares of Alaska Air Group Inc. (NYSE:ALK) have received a consensus recommendation of “Buy” from the seventeen analysts that are presently covering the stock. Six research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $84.47.
A number of brokerages have recently commented on ALK. Morgan Stanley reaffirmed a “buy” rating and set a $85.00 target price on shares of Alaska Air Group in a research report on Thursday, August 11th. Vetr raised shares of Alaska Air Group from a “buy” rating to a “strong-buy” rating and set a $81.75 target price on the stock in a research report on Wednesday, September 7th. Imperial Capital started coverage on shares of Alaska Air Group in a report on Friday, September 23rd. They set an “in-line” rating and a $74.00 price objective on the stock. Credit Suisse Group AG set a $85.00 price objective on shares of Alaska Air Group and gave the company a “buy” rating in a report on Tuesday, September 13th. Finally, JPMorgan Chase & Co. raised shares of Alaska Air Group from a “neutral” rating to an “overweight” rating and set a $78.50 price objective on the stock in a report on Wednesday, July 27th.
Alaska Air Group (NYSE:ALK) traded up 2.86% during mid-day trading on Tuesday, reaching $69.01. The company’s stock had a trading volume of 864,908 shares. The firm’s 50 day moving average is $67.19 and its 200-day moving average is $68.36. The stock has a market cap of $8.49 billion, a P/E ratio of 9.56 and a beta of 0.89. Alaska Air Group has a one year low of $54.51 and a one year high of $87.17.
Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, July 21st. The company reported $2.12 EPS for the quarter, topping the Zacks’ consensus estimate of $2.09 by $0.03. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. Alaska Air Group had a net margin of 15.86% and a return on equity of 36.88%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $1.76 earnings per share. Equities analysts expect that Alaska Air Group will post $7.05 earnings per share for the current fiscal year.
In other news, VP Brandon Pedersen sold 9,943 shares of Alaska Air Group stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $70.52, for a total transaction of $701,180.36. Following the completion of the sale, the vice president now directly owns 13,360 shares in the company, valued at $942,147.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark G. Eliasen sold 2,884 shares of Alaska Air Group stock in a transaction on Friday, July 15th. The stock was sold at an average price of $65.00, for a total transaction of $187,460.00. Following the sale, the vice president now owns 5,302 shares of the company’s stock, valued at $344,630. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
Several large investors have recently bought and sold shares of ALK. Aperio Group LLC increased its position in Alaska Air Group by 6.4% in the first quarter. Aperio Group LLC now owns 53,826 shares of the company’s stock worth $4,415,000 after buying an additional 3,229 shares in the last quarter. IFP Advisors Inc increased its position in Alaska Air Group by 21.9% in the first quarter. IFP Advisors Inc now owns 2,243 shares of the company’s stock worth $184,000 after buying an additional 403 shares in the last quarter. Pacad Investment Ltd. acquired a new position in Alaska Air Group during the first quarter worth about $262,000. TIAA CREF Investment Management LLC increased its position in Alaska Air Group by 10.0% in the first quarter. TIAA CREF Investment Management LLC now owns 1,404,713 shares of the company’s stock worth $115,215,000 after buying an additional 127,365 shares in the last quarter. Finally, Teachers Advisors Inc. increased its position in Alaska Air Group by 7.4% in the first quarter. Teachers Advisors Inc. now owns 399,858 shares of the company’s stock worth $32,796,000 after buying an additional 27,673 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.
About Alaska Air Group
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company operates through three segments: Alaska Mainline, Alaska Regional and Horizon. Its Alaska Mainline segment operates the Boeing 737 part of Alaska’s business. It offers north/south service within the western United States, Canada, Mexico and Costa Rica, as well as passenger and dedicated cargo services to and within the state of Alaska.
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