Shares of Alaska Air Group, Inc. (NYSE:ALK) have received an average recommendation of "Buy" from the sixteen ratings firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $49.42.
Several equities analysts have recently issued reports on ALK shares. TheStreet upgraded shares of Alaska Air Group from a "d+" rating to a "c-" rating in a report on Wednesday, July 1st. Raymond James lowered their target price on shares of Alaska Air Group from $44.00 to $43.00 and set a "strong-buy" rating for the company in a report on Monday, July 27th. Wolfe Research lowered shares of Alaska Air Group from an "outperform" rating to a "peer perform" rating in a report on Friday, September 11th. Bank of America upgraded shares of Alaska Air Group from a "neutral" rating to a "buy" rating in a report on Monday, June 8th. Finally, ValuEngine lowered shares of Alaska Air Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, September 1st.
In other Alaska Air Group news, EVP Andrew R. Harrison sold 2,500 shares of Alaska Air Group stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $39.02, for a total value of $97,550.00. Following the completion of the sale, the executive vice president now owns 20,005 shares of the company's stock, valued at approximately $780,595.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph A. Sprague sold 4,570 shares of Alaska Air Group stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $39.04, for a total transaction of $178,412.80. Following the completion of the sale, the insider now directly owns 16,444 shares of the company's stock, valued at approximately $641,973.76. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. Diamond Hill Capital Management Inc. grew its position in Alaska Air Group by 15.9% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,084,388 shares of the transportation company's stock worth $75,580,000 after purchasing an additional 286,190 shares during the period. Geode Capital Management LLC grew its position in shares of Alaska Air Group by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 2,029,798 shares of the transportation company's stock valued at $57,714,000 after acquiring an additional 35,729 shares during the period. Bank of New York Mellon Corp grew its position in shares of Alaska Air Group by 18.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,442,152 shares of the transportation company's stock valued at $52,294,000 after acquiring an additional 224,956 shares during the period. U S Global Investors Inc. grew its position in shares of Alaska Air Group by 228.2% during the 2nd quarter. U S Global Investors Inc. now owns 1,268,318 shares of the transportation company's stock valued at $45,989,000 after acquiring an additional 881,854 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Alaska Air Group by 212.9% during the 1st quarter. AQR Capital Management LLC now owns 1,153,145 shares of the transportation company's stock valued at $32,830,000 after acquiring an additional 784,660 shares during the period. 73.06% of the stock is owned by institutional investors and hedge funds.
ALK traded up $1.25 on Wednesday, hitting $43.43. The company had a trading volume of 51,030 shares, compared to its average volume of 2,272,540. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.79 and a quick ratio of 0.77. Alaska Air Group has a 52-week low of $20.02 and a 52-week high of $72.22. The stock has a fifty day simple moving average of $37.84 and a 200-day simple moving average of $35.21. The firm has a market capitalization of $5.13 billion, a P/E ratio of 93.28 and a beta of 1.53.
Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, July 23rd. The transportation company reported ($3.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($3.39) by ($0.15). Alaska Air Group had a net margin of 0.85% and a negative return on equity of 0.83%. The business had revenue of $421.00 million for the quarter, compared to analysts' expectations of $336.31 million. During the same quarter in the previous year, the business posted $2.17 earnings per share. Alaska Air Group's revenue for the quarter was down 81.6% on a year-over-year basis. Equities research analysts expect that Alaska Air Group will post -8.44 earnings per share for the current fiscal year.
About Alaska Air Group
Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.
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