Buckingham Research upgraded shares of Alaska Air Group Inc. (NYSE:ALK) from a neutral rating to a buy rating in a research report report published on Thursday morning. Buckingham Research currently has $84.00 price objective on the stock.
Several other brokerages also recently weighed in on ALK. Vetr downgraded Alaska Air Group from a strong-buy rating to a buy rating and set a $77.17 target price for the company. in a research note on Tuesday, September 6th. Cowen and Company reaffirmed a buy rating on shares of Alaska Air Group in a research note on Wednesday, June 15th. Zacks Investment Research raised Alaska Air Group from a sell rating to a hold rating in a research note on Tuesday, August 16th. Morgan Stanley reissued an overweight rating on shares of Alaska Air Group in a research note on Wednesday, June 15th. Finally, Credit Suisse Group AG raised Alaska Air Group from a neutral rating to an outperform rating and increased their price objective for the company from $70.00 to $85.00 in a research note on Monday, July 25th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $86.30.
Shares of Alaska Air Group (NYSE:ALK) opened at 71.94 on Thursday. The company has a market capitalization of $8.86 billion, a P/E ratio of 9.96 and a beta of 0.89. Alaska Air Group has a 52-week low of $54.51 and a 52-week high of $87.17. The stock’s 50 day moving average price is $68.03 and its 200 day moving average price is $67.61.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, July 21st. The company reported $2.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.09 by $0.03. The business earned $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Alaska Air Group had a return on equity of 36.88% and a net margin of 15.86%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.76 EPS. On average, equities research analysts forecast that Alaska Air Group will post $7.05 earnings per share for the current fiscal year.
In related news, Chairman Bradley D. Tilden sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $68.88, for a total transaction of $137,760.00. Following the completion of the transaction, the chairman now directly owns 23,900 shares in the company, valued at approximately $1,646,232. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brandon Pedersen sold 9,943 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $70.52, for a total value of $701,180.36. Following the transaction, the vice president now owns 13,360 shares of the company’s stock, valued at $942,147.20. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Alaska Air Group by 22.6% in the second quarter. Vanguard Group Inc. now owns 11,663,763 shares of the company’s stock worth $679,880,000 after buying an additional 2,146,350 shares during the period. State Street Corp boosted its position in shares of Alaska Air Group by 21.4% in the second quarter. State Street Corp now owns 3,950,210 shares of the company’s stock worth $230,257,000 after buying an additional 695,892 shares during the period. Wellington Management Group LLP boosted its position in shares of Alaska Air Group by 37.8% in the first quarter. Wellington Management Group LLP now owns 1,769,954 shares of the company’s stock worth $145,171,000 after buying an additional 485,864 shares during the period. LSV Asset Management boosted its position in shares of Alaska Air Group by 0.6% in the second quarter. LSV Asset Management now owns 1,261,547 shares of the company’s stock worth $73,535,000 after buying an additional 7,990 shares during the period. Finally, Allianz Asset Management AG boosted its position in shares of Alaska Air Group by 1.6% in the second quarter. Allianz Asset Management AG now owns 1,221,669 shares of the company’s stock worth $71,211,000 after buying an additional 19,581 shares during the period. Institutional investors own 88.66% 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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