Bank of America cut shares of Alaska Air Group (NYSE:ALK) from a buy rating to a neutral rating in a report issued on Tuesday, MarketBeat Ratings reports. Bank of America currently has $84.00 price objective on the transportation company’s stock.

A number of other equities research analysts have also recently issued reports on ALK. Barclays restated a buy rating on shares of Alaska Air Group in a report on Thursday, September 14th. Cowen reduced their price objective on Alaska Air Group from $100.00 to $89.00 and set an outperform rating for the company in a report on Thursday, October 26th. Buckingham Research reduced their price objective on Alaska Air Group from $98.00 to $91.00 and set a buy rating for the company in a report on Thursday, October 26th. Morgan Stanley restated an overweight rating on shares of Alaska Air Group in a report on Monday, September 18th. Finally, Imperial Capital reduced their price objective on Alaska Air Group from $85.00 to $70.00 and set a line rating for the company in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $88.89.

Alaska Air Group (ALK) traded up $0.76 during trading on Tuesday, reaching $72.05. The company had a trading volume of 1,797,700 shares, compared to its average volume of 1,680,000. 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 debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78. The company has a market capitalization of $8,870.00, a PE ratio of 11.55 and a beta of 1.03.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.02). Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. The company’s revenue was up 35.4% on a year-over-year basis. sell-side analysts anticipate that Alaska Air Group will post 6.69 earnings per share for the current year.

In other news, CEO David L. Campbell sold 4,934 shares of Alaska Air Group stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $68.00, for a total value of $335,512.00. Following the completion of the sale, the chief executive officer now directly owns 9,648 shares in the company, valued at $656,064. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Andrew R. Harrison sold 540 shares of Alaska Air Group 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 completion of the sale, the executive vice president now owns 20,788 shares of the company’s stock, valued at $1,362,237.64. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Alaska Air Group by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,183 shares of the transportation company’s stock valued at $824,000 after buying an additional 24 shares in the last quarter. MML Investors Services LLC raised its position in Alaska Air Group by 1.0% during the second quarter. MML Investors Services LLC now owns 5,392 shares of the transportation company’s stock valued at $484,000 after purchasing an additional 51 shares in the last quarter. Empirical Finance LLC raised its position in Alaska Air Group by 0.3% during the second quarter. Empirical Finance LLC now owns 25,002 shares of the transportation company’s stock valued at $2,245,000 after purchasing an additional 72 shares in the last quarter. Sentry Investment Management LLC raised its position in Alaska Air Group by 1.1% during the second quarter. Sentry Investment Management LLC now owns 9,125 shares of the transportation company’s stock valued at $819,000 after purchasing an additional 98 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its position in Alaska Air Group by 3.1% during the second quarter. Thrivent Financial For Lutherans now owns 4,670 shares of the transportation company’s stock valued at $419,000 after purchasing an additional 140 shares in the last quarter. 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.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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