Zacks Research Brokers Boost Earnings Estimates for Alaska Air Group, Inc. (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK - Free Report) - Investment analysts at Zacks Research increased their Q3 2024 earnings per share estimates for Alaska Air Group in a report issued on Monday, May 13th. Zacks Research analyst M. Basu now forecasts that the transportation company will earn $2.26 per share for the quarter, up from their previous estimate of $2.25. The consensus estimate for Alaska Air Group's current full-year earnings is $4.68 per share. Zacks Research also issued estimates for Alaska Air Group's FY2024 earnings at $4.68 EPS, Q4 2025 earnings at $1.54 EPS and Q1 2026 earnings at $1.69 EPS.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.09) by $0.17. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The firm had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.18 billion. During the same quarter last year, the company posted ($0.62) EPS. The company's quarterly revenue was up 1.6% compared to the same quarter last year.

ALK has been the topic of several other research reports. Bank of America raised their price target on Alaska Air Group from $50.00 to $56.00 and gave the company a "buy" rating in a report on Friday, April 19th. TD Cowen increased their price objective on shares of Alaska Air Group from $49.00 to $58.00 and gave the company a "buy" rating in a report on Friday, April 19th. UBS Group began coverage on shares of Alaska Air Group in a report on Wednesday, March 20th. They set a "buy" rating and a $54.00 target price for the company. Evercore ISI increased their price target on Alaska Air Group from $55.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, April 4th. Finally, StockNews.com raised Alaska Air Group from a "sell" rating to a "hold" rating in a research note on Friday, April 19th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $56.75.

Alaska Air Group Trading Down 0.7 %

ALK traded down $0.29 during mid-day trading on Wednesday, reaching $43.49. The stock had a trading volume of 1,155,307 shares, compared to its average volume of 2,363,629. The firm's fifty day simple moving average is $41.82 and its two-hundred day simple moving average is $38.53. The stock has a market capitalization of $5.52 billion, a P/E ratio of 23.26, a P/E/G ratio of 0.59 and a beta of 1.60. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $57.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 0.65.

Insider Buying and Selling at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 6,500 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total value of $249,340.00. Following the completion of the sale, the executive vice president now owns 26,048 shares of the company's stock, valued at $999,201.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.92% of the company's stock.

Institutional Investors Weigh In On Alaska Air Group

Large investors have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV increased its position in shares of Alaska Air Group by 215.8% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 761 shares of the transportation company's stock worth $30,000 after acquiring an additional 520 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Alaska Air Group by 255.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 775 shares of the transportation company's stock worth $30,000 after acquiring an additional 557 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Alaska Air Group by 456.1% during the third quarter. Itau Unibanco Holding S.A. now owns 912 shares of the transportation company's stock worth $34,000 after acquiring an additional 748 shares in the last quarter. Principal Securities Inc. bought a new position in Alaska Air Group in the fourth quarter valued at $39,000. Finally, Allworth Financial LP grew its position in Alaska Air Group by 63.4% in the third quarter. Allworth Financial LP now owns 1,297 shares of the transportation company's stock valued at $48,000 after purchasing an additional 503 shares in the last quarter. Institutional investors own 81.90% of the company's stock.

About Alaska Air Group

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.