Bank of America Issues Pessimistic Forecast for Alaska Air Group (NYSE:ALK) Stock Price

Alaska Air Group (NYSE:ALK) had its price objective reduced by research analysts at Bank of America from $80.00 to $70.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective points to a potential upside of 57.69% from the company’s current price.

A number of other brokerages also recently issued reports on ALK. UBS Group cut their price target on shares of Alaska Air Group from $87.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Citigroup decreased their price target on Alaska Air Group from $83.00 to $81.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. JPMorgan Chase & Co. raised their price objective on shares of Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. The Goldman Sachs Group lifted their target price on Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, TD Cowen raised their price objective on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $76.23.

Alaska Air Group Trading Down 3.4 %

Shares of NYSE:ALK opened at $44.39 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average of $64.04 and a two-hundred day moving average of $57.69. Alaska Air Group has a 12-month low of $32.62 and a 12-month high of $78.08. The company has a market capitalization of $5.45 billion, a PE ratio of 14.55, a PEG ratio of 0.43 and a beta of 1.37.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. As a group, analysts forecast that Alaska Air Group will post 6.03 EPS for the current year.

Insider Buying and Selling

In related news, CEO Joseph A. Sprague sold 9,500 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $68.90, for a total value of $654,550.00. Following the sale, the chief executive officer now owns 9,840 shares of the company’s stock, valued at approximately $677,976. This represents a 49.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 91,745 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $71.14, for a total value of $6,526,739.30. Following the transaction, the executive vice president now directly owns 20,638 shares of the company’s stock, valued at $1,468,187.32. The trade was a 81.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,725 shares of company stock worth $11,217,263 in the last three months. Corporate insiders own 0.92% of the company’s stock.

Institutional Trading of Alaska Air Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC grew its holdings in shares of Alaska Air Group by 44.8% during the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock worth $38,000 after buying an additional 182 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new stake in Alaska Air Group in the 4th quarter worth approximately $38,000. SBI Securities Co. Ltd. acquired a new position in Alaska Air Group in the 4th quarter valued at $52,000. EverSource Wealth Advisors LLC lifted its stake in shares of Alaska Air Group by 61.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock worth $62,000 after purchasing an additional 364 shares during the period. Finally, Pacific Center for Financial Services acquired a new stake in shares of Alaska Air Group during the third quarter worth $45,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

About Alaska Air Group

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.