Alaska Air Group (NYSE:ALK - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.25-5.25 for the period, compared to the consensus EPS estimate of $4.36. Alaska Air Group also updated its FY 2024 guidance to 3.250-5.250 EPS.
Wall Street Analyst Weigh In
Several research firms recently commented on ALK. UBS Group began coverage on Alaska Air Group in a research note on Wednesday, March 20th. They set a buy rating and a $54.00 target price for the company. TD Cowen lifted their price target on Alaska Air Group from $41.00 to $49.00 and gave the stock a buy rating in a report on Friday, April 5th. Susquehanna downgraded Alaska Air Group from a positive rating to a neutral rating and lifted their price target for the stock from $39.00 to $40.00 in a report on Wednesday, January 10th. Melius downgraded Alaska Air Group from a buy rating to a hold rating in a report on Monday, January 8th. Finally, StockNews.com downgraded Alaska Air Group from a hold rating to a sell rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $57.44.
Check Out Our Latest Stock Report on Alaska Air Group
Alaska Air Group Stock Performance
NYSE ALK traded up $1.73 on Thursday, hitting $44.45. 5,592,061 shares of the company's stock were exchanged, compared to its average volume of 2,501,065. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.61 and a quick ratio of 0.58. The firm's 50-day moving average price is $39.52 and its two-hundred day moving average price is $37.17. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $57.18. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 0.82 and a beta of 1.63.
Alaska Air Group (NYSE:ALK - Get Free Report) last released its earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.07). Alaska Air Group had a return on equity of 14.72% and a net margin of 2.25%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the firm posted ($0.62) EPS. The business's revenue for the quarter was up 1.6% on a year-over-year basis. On average, research analysts expect that Alaska Air Group will post 4.41 EPS for the current year.
Insiders Place Their Bets
In other Alaska Air Group news, EVP Andrew R. Harrison sold 6,500 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the transaction, the executive vice president now owns 26,048 shares in the company, valued at approximately $999,201.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.68% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Alaska Air Group
Institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors grew its holdings in shares of Alaska Air Group by 15.4% in the 3rd quarter. Captrust Financial Advisors now owns 6,204 shares of the transportation company's stock worth $243,000 after acquiring an additional 828 shares during the period. Profund Advisors LLC acquired a new stake in shares of Alaska Air Group in the 4th quarter worth approximately $221,000. CreativeOne Wealth LLC acquired a new stake in shares of Alaska Air Group in the 4th quarter worth approximately $211,000. Forum Financial Management LP purchased a new stake in Alaska Air Group in the 1st quarter valued at approximately $202,000. Finally, Wetherby Asset Management Inc. purchased a new stake in Alaska Air Group in the 1st quarter valued at approximately $201,000. Institutional investors and hedge funds own 81.90% of the company's stock.
About Alaska Air Group
(
Get Free Report)
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.
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