Alaska Air Group, Inc. (ALK) Receives Average Recommendation of “Buy” from Brokerages
Shares of Alaska Air Group, Inc. (NYSE:ALK) have earned an average rating of “Buy” from the fourteen analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $104.72.
A number of equities research analysts have recently weighed in on the company. Macquarie assumed coverage on Alaska Air Group in a research note on Monday, September 25th. They issued an “outperform” rating and a $94.00 target price for the company. Stifel Nicolaus reissued a “buy” rating and issued a $125.00 target price on shares of Alaska Air Group in a research note on Saturday, September 23rd. Morgan Stanley reissued an “overweight” rating on shares of Alaska Air Group in a research note on Monday, September 18th. Cowen and Company lowered their target price on Alaska Air Group from $103.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, September 14th. Finally, Barclays PLC reissued a “buy” rating on shares of Alaska Air Group in a research note on Thursday, September 14th.
Shares of Alaska Air Group (ALK) traded up 1.02% during midday trading on Friday, hitting $80.56. The stock had a trading volume of 1,549,454 shares. Alaska Air Group has a 1-year low of $68.17 and a 1-year high of $101.43. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 13.10 and a beta of 0.99. The firm’s 50-day moving average price is $75.61 and its 200-day moving average price is $85.13.
Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.01). Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the firm posted $2.12 EPS. The company’s revenue was up 40.7% on a year-over-year basis. Analysts forecast that Alaska Air Group will post $7.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd were issued a dividend of $0.30 per share. The ex-dividend date was Friday, August 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. Alaska Air Group’s dividend payout ratio is presently 19.48%.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 2,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total transaction of $205,992.00. Following the transaction, the chairman now owns 140,346 shares in the company, valued at approximately $12,045,897.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Bradley D. Tilden sold 5,600 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $94.48, for a total value of $529,088.00. Following the transaction, the chairman now owns 145,546 shares in the company, valued at approximately $13,751,186.08. The disclosure for this sale can be found here. Insiders have sold a total of 10,350 shares of company stock worth $937,251 in the last quarter. Company insiders own 0.57% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Mountain Capital Investment Advisors Inc purchased a new position in shares of Alaska Air Group during the 2nd quarter worth approximately $122,000. Bessemer Group Inc. grew its holdings in shares of Alaska Air Group by 57.9% during the 2nd quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock worth $171,000 after acquiring an additional 695 shares during the period. Twin Tree Management LP purchased a new position in shares of Alaska Air Group during the 1st quarter worth approximately $179,000. Rehmann Capital Advisory Group purchased a new position in shares of Alaska Air Group during the 2nd quarter worth approximately $201,000. Finally, Insight Capital Research & Management Inc. purchased a new position in shares of Alaska Air Group during the 2nd quarter worth approximately $215,000. Hedge funds and other institutional investors own 87.76% of the company’s stock.
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Alaska Air Group Company Profile
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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