Alaska Air Group (NYSE:ALK) posted its quarterly earnings results on Tuesday. The transportation company reported ($2.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.91) by $0.36, MarketWatch Earnings reports. Alaska Air Group had a negative net margin of 13.96% and a negative return on equity of 19.39%. The business had revenue of $808.00 million during the quarter, compared to analyst estimates of $813.37 million. During the same period in the prior year, the business posted $1.46 earnings per share. The company's revenue was down 63.7% on a year-over-year basis. Alaska Air Group updated its Q1 2021
IntraDay guidance to EPS.
ALK stock opened at $51.00 on Wednesday. Alaska Air Group has a 1 year low of $20.02 and a 1 year high of $67.48. The company has a market cap of $6.31 billion, a P/E ratio of -9.21 and a beta of 1.81. The firm has a 50-day moving average of $51.80 and a 200 day moving average of $43.02. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.06 and a quick ratio of 1.05.
Several research firms have issued reports on ALK. UBS Group upgraded shares of Alaska Air Group from a "neutral" rating to a "buy" rating and upped their price target for the company from $43.00 to $64.00 in a research report on Friday, December 11th. Morgan Stanley increased their target price on shares of Alaska Air Group from $46.00 to $49.00 and gave the stock an "equal weight" rating in a report on Friday, October 23rd. Zacks Investment Research upgraded shares of Alaska Air Group from a "sell" rating to a "hold" rating and set a $58.00 target price for the company in a report on Friday, January 22nd. JPMorgan Chase & Co. increased their target price on shares of Alaska Air Group from $55.00 to $64.00 and gave the stock an "overweight" rating in a report on Wednesday, October 7th. Finally, Raymond James increased their target price on shares of Alaska Air Group from $50.00 to $65.00 and gave the stock a "strong-buy" rating in a report on Monday, November 30th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Alaska Air Group currently has a consensus rating of "Buy" and a consensus target price of $53.25.
In other Alaska Air Group news, insider Benito Minicucci sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, December 28th. The shares were sold at an average price of $52.95, for a total transaction of $529,500.00. Following the completion of the transaction, the insider now owns 95,908 shares of the company's stock, valued at $5,078,328.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher Michael Berry sold 630 shares of the firm's stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $54.05, for a total transaction of $34,051.50. Following the transaction, the vice president now directly owns 4,703 shares of the company's stock, valued at approximately $254,197.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,130 shares of company stock valued at $659,102. 0.47% of the stock is owned by insiders.
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 1,300 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.
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