Alaska Air Group (NYSE:ALK) Rating Increased to Hold at StockNews.com

Alaska Air Group (NYSE:ALK) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other brokerages also recently commented on ALK. Deutsche Bank Aktiengesellschaft upgraded Alaska Air Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $44.00 to $51.00 in a research note on Tuesday, February 20th. Susquehanna upped their target price on Alaska Air Group from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday. TD Cowen upped their target price on Alaska Air Group from $49.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday. Evercore ISI increased their price target on Alaska Air Group from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Bank of America increased their price target on Alaska Air Group from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.85.

Alaska Air Group Stock Performance

Shares of ALK traded up $0.58 during mid-day trading on Friday, reaching $45.02. The company had a trading volume of 3,135,252 shares, compared to its average volume of 2,509,428. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $57.18. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $5.66 billion, a P/E ratio of 24.87, a PEG ratio of 0.86 and a beta of 1.63. The stock has a 50 day moving average of $39.68 and a two-hundred day moving average of $37.22.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, April 18th. The transportation company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.17. Alaska Air Group had a return on equity of 14.72% and a net margin of 2.25%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the business earned ($0.62) earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year. On average, analysts expect that Alaska Air Group will post 4.41 earnings per share for the current year.

Insider Buying and Selling at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 6,500 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the transaction, the executive vice president now owns 26,048 shares of the company’s stock, valued at $999,201.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Alaska Air Group

Hedge funds have recently made changes to their positions in the company. McIlrath & Eck LLC increased its holdings in shares of Alaska Air Group by 12.2% in the fourth quarter. McIlrath & Eck LLC now owns 2,149 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 234 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Alaska Air Group by 19.9% in the first quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock valued at $105,000 after purchasing an additional 300 shares during the last quarter. CVA Family Office LLC increased its holdings in shares of Alaska Air Group by 17.1% in the first quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 325 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Alaska Air Group by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 7,663 shares of the transportation company’s stock valued at $284,000 after purchasing an additional 327 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Alaska Air Group by 5.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,906 shares of the transportation company’s stock valued at $270,000 after purchasing an additional 333 shares during the last quarter. Institutional investors and hedge funds 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.