Alaska Air Group, Inc. (NYSE:ALK) Given Consensus Rating of “Moderate Buy” by Brokerages

Alaska Air Group, Inc. (NYSE:ALKGet Rating) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $66.78.

Several equities research analysts have recently weighed in on ALK shares. Barclays dropped their target price on shares of Alaska Air Group from $61.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 12th. JPMorgan Chase & Co. upped their target price on shares of Alaska Air Group from $97.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, April 22nd. Evercore ISI reduced their price target on shares of Alaska Air Group from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, June 27th. Susquehanna Bancshares reduced their price target on shares of Alaska Air Group from $68.00 to $50.00 and set a “positive” rating for the company in a research note on Tuesday, July 12th. Finally, StockNews.com raised shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Friday.

Insider Buying and Selling at Alaska Air Group

In other news, CFO Shane R. Tackett sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $46.97, for a total transaction of $93,940.00. Following the completion of the transaction, the chief financial officer now directly owns 9,966 shares of the company’s stock, valued at approximately $468,103.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

A number of hedge funds have recently made changes to their positions in ALK. Clearbridge Investments LLC acquired a new stake in Alaska Air Group in the 1st quarter valued at about $62,390,000. Millennium Management LLC boosted its stake in Alaska Air Group by 44.7% during the 4th quarter. Millennium Management LLC now owns 2,194,202 shares of the transportation company’s stock worth $114,318,000 after acquiring an additional 678,268 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Alaska Air Group by 9.3% during the 1st quarter. Victory Capital Management Inc. now owns 6,341,707 shares of the transportation company’s stock worth $367,863,000 after acquiring an additional 539,580 shares during the last quarter. Invesco Ltd. boosted its stake in Alaska Air Group by 28.2% during the 4th quarter. Invesco Ltd. now owns 2,290,015 shares of the transportation company’s stock worth $119,310,000 after acquiring an additional 503,198 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new position in Alaska Air Group in the first quarter valued at approximately $25,374,000. Institutional investors and hedge funds own 72.26% of the company’s stock.

Alaska Air Group Trading Down 1.0 %

Shares of ALK opened at $42.75 on Friday. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 26.39 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.86 and a quick ratio of 0.85. Alaska Air Group has a 1-year low of $38.19 and a 1-year high of $63.76. The firm has a 50 day simple moving average of $43.47 and a 200-day simple moving average of $50.52.

Alaska Air Group (NYSE:ALKGet Rating) last posted its earnings results on Thursday, July 21st. The transportation company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.24. Alaska Air Group had a net margin of 2.54% and a return on equity of 8.97%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the business posted ($0.30) EPS. The business’s quarterly revenue was up 74.1% on a year-over-year basis. Equities analysts forecast that Alaska Air Group will post 3.9 EPS for the current fiscal year.

About Alaska Air Group

(Get Rating)

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 flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc was founded in 1932 and is based in Seattle, Washington.

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