Zacks: Alaska Air Group, Inc. (ALK) Receives Consensus Recommendation of “Buy” from Analysts
Alaska Air Group, Inc. (NYSE:ALK) has received a consensus broker rating score of 1.63 (Buy) from the twelve brokers that provide coverage for the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and seven have given a strong buy rating to the company. Alaska Air Group’s rating score has declined by 20.7% in the last three months as a result of various analysts’ ratings changes.
Analysts have set a 12 month consensus price objective of $86.58 for the company and are forecasting that the company will post $1.00 earnings per share for the current quarter, according to Zacks. Zacks has also given Alaska Air Group an industry rank of 218 out of 265 based on the ratings given to related companies.
ALK has been the topic of a number of recent research reports. Bank of America Corporation lowered their price target on shares of Alaska Air Group from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, October 13th. BidaskClub lowered shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Morgan Stanley lowered their price target on shares of Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research report on Monday, July 17th. Stifel Nicolaus lowered their price target on shares of Alaska Air Group from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Finally, Macquarie initiated coverage on shares of Alaska Air Group in a research report on Monday, September 25th. They set an “outperform” rating and a $94.00 price target on the stock.
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Shares of Alaska Air Group (ALK) opened at C$62.42 on Monday. Alaska Air Group has a 52-week low of C$61.36 and a 52-week high of C$101.43. The stock has a market cap of $7,680.46, a PE ratio of 8.48 and a beta of 1.01. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, October 25th. The company reported C$2.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$2.26 by C($0.02). The company had revenue of C$2.12 billion during the quarter, compared to analyst estimates of C$2.13 billion. Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The firm’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.20 EPS. sell-side analysts forecast that Alaska Air Group will post 6.8 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Tuesday, November 21st will be issued a $0.30 dividend. The ex-dividend date is Monday, November 20th. This represents a $1.20 annualized dividend and a yield of 1.92%. Alaska Air Group’s payout ratio is 19.26%.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Alaska Air Group by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 11,829,247 shares of the company’s stock valued at $1,061,794,000 after acquiring an additional 261,887 shares during the period. Egerton Capital UK LLP raised its stake in shares of Alaska Air Group by 51.6% in the 3rd quarter. Egerton Capital UK LLP now owns 4,476,494 shares of the company’s stock valued at $341,422,000 after acquiring an additional 1,524,149 shares during the period. Franklin Resources Inc. raised its stake in shares of Alaska Air Group by 4.6% in the 2nd quarter. Franklin Resources Inc. now owns 3,348,411 shares of the company’s stock valued at $300,554,000 after acquiring an additional 148,061 shares during the period. Principal Financial Group Inc. raised its stake in shares of Alaska Air Group by 22.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,510,663 shares of the company’s stock valued at $115,218,000 after acquiring an additional 280,075 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Alaska Air Group by 10.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,491,104 shares of the company’s stock valued at $133,835,000 after acquiring an additional 145,328 shares during the period. 89.33% of the stock is currently owned by institutional investors and hedge funds.
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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