Imperial Capital Raises Alaska Air Group, Inc. (ALK) Price Target to $101.00
Alaska Air Group, Inc. (NYSE:ALK) had its price objective raised by Imperial Capital from $84.00 to $101.00 in a research report released on Friday morning. The brokerage currently has an in-line rating on the stock.
A number of other equities research analysts have also recently weighed in on the company. Vetr upgraded Alaska Air Group from a sell rating to a hold rating and set a $90.70 price target on the stock in a report on Tuesday, January 10th. Bank of America Corporation reaffirmed a neutral rating and issued a $78.00 target price (up previously from $72.00) on shares of Alaska Air Group in a research note on Sunday, October 23rd. Citigroup Inc. initiated coverage on Alaska Air Group in a research note on Friday, November 18th. They issued a neutral rating and a $81.00 target price on the stock. Zacks Investment Research lowered Alaska Air Group from a hold rating to a sell rating in a research note on Tuesday, October 18th. Finally, Buckingham Research raised Alaska Air Group from a neutral rating to a buy rating and set a $84.00 price target on the stock in a research note on Thursday, October 13th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Alaska Air Group presently has a consensus rating of Buy and a consensus price target of $93.01.
Shares of Alaska Air Group (NYSE:ALK) traded up 0.03% on Friday, hitting $96.69. The stock had a trading volume of 1,296,940 shares. The company has a market cap of $11.92 billion, a price-to-earnings ratio of 14.78 and a beta of 0.80. Alaska Air Group has a 12-month low of $54.51 and a 12-month high of $98.89. The stock has a 50 day moving average price of $93.41 and a 200-day moving average price of $78.43.
Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, February 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.16. Alaska Air Group had a return on equity of 33.50% and a net margin of 13.72%. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts expect that Alaska Air Group will post $8.03 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 9th. Investors of record on Tuesday, February 21st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, February 16th. This is a positive change from Alaska Air Group’s previous quarterly dividend of $0.28. Alaska Air Group’s dividend payout ratio (DPR) is currently 16.79%.
In other Alaska Air Group news, VP Brandon Pedersen sold 4,681 shares of Alaska Air Group stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $89.85, for a total value of $420,587.85. Following the transaction, the vice president now owns 13,360 shares in the company, valued at $1,200,396. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Kyle B. Levine sold 1,703 shares of Alaska Air Group stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $97.65, for a total transaction of $166,297.95. Following the completion of the transaction, the vice president now owns 39 shares in the company, valued at approximately $3,808.35. The disclosure for this sale can be found here. Insiders have sold 50,962 shares of company stock worth $4,694,332 in the last quarter. Company insiders own 0.68% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cypress Capital Management LLC WY purchased a new position in Alaska Air Group during the second quarter valued at $462,000. Sequoia Financial Advisors LLC raised its stake in shares of Alaska Air Group by 10.3% in the second quarter. Sequoia Financial Advisors LLC now owns 33,919 shares of the company’s stock worth $1,977,000 after buying an additional 3,176 shares during the period. Nordea Investment Management AB raised its stake in shares of Alaska Air Group by 178.0% in the second quarter. Nordea Investment Management AB now owns 34,200 shares of the company’s stock worth $1,994,000 after buying an additional 21,900 shares during the period. BB&T Corp raised its stake in shares of Alaska Air Group by 123.9% in the second quarter. BB&T Corp now owns 114,860 shares of the company’s stock worth $6,696,000 after buying an additional 63,550 shares during the period. Finally, Anchor Capital Advisors LLC raised its stake in shares of Alaska Air Group by 0.9% in the second quarter. Anchor Capital Advisors LLC now owns 13,636 shares of the company’s stock worth $795,000 after buying an additional 121 shares during the period. Hedge funds and other institutional investors own 89.01% of the company’s stock.
Alaska Air Group Company Profile
Alaska Air Group, Inc is a holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company’s segments include Alaska Mainline, Alaska Regional and Horizon. Its Alaska Mainline segment operates the Boeing 737 part of Alaska’s business. It offers north/south service within the western United States, Canada, Mexico and Costa Rica, as well as passenger and dedicated cargo services to and within the state of Alaska.
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