Alaska Air Group (NYSE:ALK) Shares Gap Down - Time to Sell?

Alaska Air Group, Inc. (NYSE:ALK - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $49.64, but opened at $47.01. Alaska Air Group shares last traded at $47.44, with a volume of 803,192 shares.

Wall Street Analysts Forecast Growth

ALK has been the topic of several analyst reports. UBS Group lowered Alaska Air Group from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $75.00 to $54.00 in a report on Monday, April 7th. Citigroup dropped their target price on Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Barclays dropped their price objective on Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on Alaska Air Group from $85.00 to $89.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. Finally, Susquehanna dropped their price objective on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a report on Monday, April 7th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $66.83.

Alaska Air Group Stock Performance

The stock has a market cap of $5.82 billion, a PE ratio of 15.54, a P/E/G ratio of 0.43 and a beta of 1.44. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average of $48.81 and a 200 day moving average of $58.28.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.05). Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. The company had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $3.19 billion. During the same quarter in the previous year, the business posted ($0.92) EPS. The business's quarterly revenue was up 40.5% compared to the same quarter last year. Equities analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Andrew R. Harrison sold 7,500 shares of Alaska Air Group stock in a transaction on Monday, May 19th. The stock was sold at an average price of $53.51, for a total value of $401,325.00. Following the completion of the sale, the executive vice president now directly owns 26,530 shares of the company's stock, valued at approximately $1,419,620.30. The trade was a 22.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Emily Halverson sold 2,946 shares of Alaska Air Group stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $51.34, for a total value of $151,247.64. Following the completion of the sale, the vice president now directly owns 8,253 shares of the company's stock, valued at $423,709.02. The trade was a 26.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,479 shares of company stock valued at $554,228 over the last quarter. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Alaska Air Group

Institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Alaska Air Group in the fourth quarter valued at $52,000. Jones Financial Companies Lllp grew its stake in shares of Alaska Air Group by 77.8% in the fourth quarter. Jones Financial Companies Lllp now owns 5,221 shares of the transportation company's stock valued at $338,000 after buying an additional 2,284 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Alaska Air Group by 20.6% in the fourth quarter. HighTower Advisors LLC now owns 12,773 shares of the transportation company's stock valued at $827,000 after buying an additional 2,186 shares in the last quarter. US Bancorp DE grew its stake in shares of Alaska Air Group by 2.9% in the fourth quarter. US Bancorp DE now owns 21,772 shares of the transportation company's stock valued at $1,410,000 after buying an additional 612 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Alaska Air Group in the fourth quarter valued at $357,000. 81.90% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Company Profile

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.