Alaska Air Group (ALK) Cut to “Equal Weight” at Barclays
Barclays downgraded shares of Alaska Air Group (NYSE:ALK) from an overweight rating to an equal weight rating in a report issued on Wednesday, MarketBeat reports. The firm currently has $80.00 price target on the transportation company’s stock, down from their prior price target of $90.00.
Other equities analysts also recently issued reports about the stock. Cowen cut their price target on shares of Alaska Air Group from $103.00 to $100.00 and set an outperform rating on the stock in a report on Thursday, September 14th. Morgan Stanley restated an overweight rating on shares of Alaska Air Group in a research note on Monday, September 18th. Deutsche Bank dropped their target price on shares of Alaska Air Group from $99.00 to $84.00 and set a buy rating on the stock in a research note on Thursday, October 26th. Stifel Nicolaus dropped their target price on shares of Alaska Air Group from $125.00 to $115.00 and set a buy rating on the stock in a research note on Thursday, October 26th. Finally, Bank of America downgraded shares of Alaska Air Group from a buy rating to a neutral rating and set a $84.00 target price on the stock. in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $88.89.
Alaska Air Group (NYSE ALK) opened at $73.52 on Wednesday. The company has a market cap of $9,050.00, a PE ratio of 11.78 and a beta of 1.03. Alaska Air Group has a fifty-two week low of $61.10 and a fifty-two week high of $101.43. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.02). The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.13 billion. Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The business’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 earnings per share. equities analysts predict that Alaska Air Group will post 6.65 earnings per share for the current fiscal year.
In other news, EVP Andrew R. Harrison sold 540 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $65.53, for a total transaction of $35,386.20. Following the transaction, the executive vice president now directly owns 20,788 shares in the company, valued at $1,362,237.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David L. Campbell sold 4,934 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $68.00, for a total transaction of $335,512.00. Following the transaction, the chief executive officer now owns 9,648 shares in the company, valued at $656,064. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALK. Egerton Capital UK LLP boosted its stake in shares of Alaska Air Group by 51.6% during the third quarter. Egerton Capital UK LLP now owns 4,476,494 shares of the transportation company’s stock valued at $341,422,000 after purchasing an additional 1,524,149 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Alaska Air Group during the second quarter valued at approximately $57,891,000. Ardevora Asset Management LLP bought a new position in shares of Alaska Air Group during the third quarter valued at approximately $33,124,000. Lateef Investment Management L.P. bought a new position in shares of Alaska Air Group during the third quarter valued at approximately $24,256,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Alaska Air Group by 67.2% during the third quarter. Victory Capital Management Inc. now owns 783,102 shares of the transportation company’s stock valued at $59,728,000 after purchasing an additional 314,673 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.
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About Alaska Air Group
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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