Texas Permanent School Fund Corp Decreases Stake in Alaska Air Group, Inc. (NYSE:ALK)

Texas Permanent School Fund Corp lowered its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 6.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 24,977 shares of the transportation company’s stock after selling 1,611 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Alaska Air Group were worth $1,328,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Royce & Associates LP grew its holdings in shares of Alaska Air Group by 13.1% during the 2nd quarter. Royce & Associates LP now owns 167,136 shares of the transportation company’s stock worth $8,888,000 after purchasing an additional 19,300 shares during the period. Bfsg LLC purchased a new position in Alaska Air Group in the 2nd quarter worth approximately $993,000. Hodges Capital Management Inc. boosted its holdings in Alaska Air Group by 84.5% in the 2nd quarter. Hodges Capital Management Inc. now owns 120,180 shares of the transportation company’s stock worth $9,588,000 after acquiring an additional 55,048 shares during the period. New York Life Investment Management LLC boosted its holdings in Alaska Air Group by 33.0% in the 2nd quarter. New York Life Investment Management LLC now owns 24,118 shares of the transportation company’s stock worth $1,283,000 after acquiring an additional 5,984 shares during the period. Finally, swisspartners Advisors Ltd boosted its holdings in Alaska Air Group by 1.8% in the 2nd quarter. swisspartners Advisors Ltd now owns 113,454 shares of the transportation company’s stock worth $6,033,000 after acquiring an additional 2,030 shares during the period. Hedge funds and other institutional investors own 80.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays decreased their price target on Alaska Air Group from $62.00 to $50.00 in a report on Thursday, October 5th. Susquehanna decreased their price target on Alaska Air Group from $58.00 to $41.00 and set a “positive” rating for the company in a report on Wednesday, October 11th. The Goldman Sachs Group cut their target price on Alaska Air Group from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, July 25th. Raymond James cut their target price on Alaska Air Group from $58.00 to $53.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 20th. Finally, Morgan Stanley cut their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alaska Air Group has an average rating of “Moderate Buy” and an average target price of $58.91.

Alaska Air Group Stock Performance

Shares of ALK opened at $36.76 on Friday. The business’s fifty day moving average price is $35.17 and its 200 day moving average price is $42.98. Alaska Air Group, Inc. has a 12-month low of $30.75 and a 12-month high of $57.18. The stock has a market capitalization of $4.71 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 0.82 and a beta of 1.58. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.72 and a quick ratio of 0.69.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, October 19th. The transportation company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.87 by ($0.04). Alaska Air Group had a return on equity of 17.06% and a net margin of 2.50%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter last year, the business earned $2.53 earnings per share. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Equities research analysts forecast that Alaska Air Group, Inc. will post 4.43 EPS for the current year.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, operated airlines. The company operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing and Airbus jet aircraft for passengers and cargo throughout the United States, and in parts of Mexico, Costa Rica, and Belize; and for passengers across a shorter distance network within the United States and Canada.