Alaska Air Group (NYSE:ALK) Receives New Coverage from Analysts at MKM Partners

MKM Partners assumed coverage on shares of Alaska Air Group (NYSE:ALK) in a research note issued to investors on Thursday morning, Price Targets.com reports. The brokerage issued a buy rating and a $81.00 price objective on the transportation company’s stock.

ALK has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on Alaska Air Group from $65.00 to $104.00 and gave the company an overweight rating in a research note on Wednesday, April 14th. Deutsche Bank Aktiengesellschaft raised Alaska Air Group from a hold rating to a buy rating and set a $75.00 price objective for the company in a research note on Monday, February 22nd. The Goldman Sachs Group upped their target price on Alaska Air Group from $64.00 to $90.00 and gave the company a buy rating in a report on Tuesday, March 16th. Zacks Investment Research cut Alaska Air Group from a hold rating to a sell rating and set a $75.00 target price for the company. in a report on Monday, March 22nd. Finally, Barclays upped their target price on Alaska Air Group from $54.00 to $68.00 in a report on Thursday, April 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $74.50.

Shares of ALK stock opened at $64.90 on Thursday. The stock’s 50 day simple moving average is $68.69. Alaska Air Group has a 1-year low of $33.00 and a 1-year high of $74.25. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.81. The firm has a market cap of $8.08 billion, a P/E ratio of -6.66 and a beta of 1.81.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, April 21st. The transportation company reported ($3.51) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.63) by $0.12. Alaska Air Group had a negative return on equity of 48.26% and a negative net margin of 44.22%. The firm had revenue of $797.00 million during the quarter, compared to the consensus estimate of $786.52 million. During the same period in the prior year, the company earned ($0.82) EPS. The firm’s revenue was down 51.3% compared to the same quarter last year. On average, research analysts forecast that Alaska Air Group will post -2.56 EPS for the current year.

In related news, CEO Bradley D. Tilden sold 33,796 shares of the stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $69.12, for a total transaction of $2,335,979.52. Following the transaction, the chief executive officer now owns 191,589 shares of the company’s stock, valued at approximately $13,242,631.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jessie J. Knight, Jr. bought 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, June 8th. The shares were purchased at an average cost of $66.26 per share, for a total transaction of $79,512.00. Following the purchase, the director now owns 4,987 shares in the company, valued at approximately $330,438.62. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 85,864 shares of company stock valued at $5,902,817. Company insiders own 0.73% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ALK. AE Wealth Management LLC acquired a new stake in Alaska Air Group in the 4th quarter valued at about $264,000. California Public Employees Retirement System raised its position in Alaska Air Group by 2.8% in the 4th quarter. California Public Employees Retirement System now owns 297,512 shares of the transportation company’s stock valued at $15,471,000 after purchasing an additional 7,963 shares in the last quarter. Bailard Inc. acquired a new stake in Alaska Air Group in the 4th quarter valued at about $215,000. GSA Capital Partners LLP acquired a new stake in Alaska Air Group in the 4th quarter valued at about $294,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in Alaska Air Group by 20.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,631 shares of the transportation company’s stock valued at $917,000 after purchasing an additional 2,970 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 115 destinations throughout the United States and North America. The company was founded in 1932 and is based in Seattle, Washington.

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Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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