Buckingham Research upgraded shares of Alaska Air Group Inc. (NYSE:ALK) from a neutral rating to a buy rating in a research note issued to investors on Thursday.

Other analysts have also recently issued reports about the company. Credit Suisse Group AG set a $85.00 price target on Alaska Air Group and gave the company a buy rating in a research note on Tuesday, September 13th. Cowen and Company reissued a buy rating on shares of Alaska Air Group in a research note on Wednesday, June 15th. Morgan Stanley reissued a buy rating and set a $85.00 target price on shares of Alaska Air Group in a research note on Thursday, August 11th. Vetr cut shares of Alaska Air Group from a strong-buy rating to a buy rating and set a $77.17 price target for the company. in a research note on Tuesday, September 6th. Finally, Zacks Investment Research raised shares of Alaska Air Group from a sell rating to a hold rating in a research note on Tuesday, August 16th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $86.48.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

Alaska Air Group (NYSE:ALK) traded down 1.19% on Thursday, hitting $72.09. 494,021 shares of the stock traded hands. The company’s 50 day moving average price is $67.78 and its 200-day moving average price is $67.96. Alaska Air Group has a 12-month low of $54.51 and a 12-month high of $87.17. The stock has a market capitalization of $8.87 billion, a P/E ratio of 9.98 and a beta of 0.88.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, July 21st. The company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.03. The company earned $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Alaska Air Group had a return on equity of 36.88% and a net margin of 15.86%. Alaska Air Group’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.76 EPS. Analysts predict that Alaska Air Group will post $7.05 EPS for the current year.

In related news, VP Mark G. Eliasen sold 4,560 shares of Alaska Air Group stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $68.19, for a total value of $310,946.40. Following the transaction, the vice president now directly owns 5,302 shares of the company’s stock, valued at $361,543.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Bradley D. Tilden sold 2,000 shares of Alaska Air Group stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $68.88, for a total value of $137,760.00. Following the completion of the transaction, the chairman now directly owns 23,900 shares in the company, valued at $1,646,232. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of ALK. Nuveen Asset Management LLC raised its position in shares of Alaska Air Group by 28.2% in the first quarter. Nuveen Asset Management LLC now owns 380,230 shares of the company’s stock valued at $31,186,000 after buying an additional 83,630 shares during the period. Geode Capital Management LLC raised its position in shares of Alaska Air Group by 3.8% in the first quarter. Geode Capital Management LLC now owns 819,428 shares of the company’s stock valued at $67,209,000 after buying an additional 30,102 shares during the period. First Republic Investment Management Inc. raised its position in shares of Alaska Air Group by 22.5% in the first quarter. First Republic Investment Management Inc. now owns 8,722 shares of the company’s stock valued at $715,000 after buying an additional 1,602 shares during the period. Sit Investment Associates Inc. raised its position in shares of Alaska Air Group by 25.8% in the second quarter. Sit Investment Associates Inc. now owns 77,650 shares of the company’s stock valued at $4,526,000 after buying an additional 15,925 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Alaska Air Group during the second quarter valued at about $227,000. 88.73% of the stock is currently owned by institutional investors.

About Alaska Air Group

Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company operates through three segments: Alaska Mainline, Alaska Regional and Horizon. Its Alaska Mainline segment operates the Boeing 737 part of Alaska’s business. It offers north/south service within the western United States, Canada, Mexico and Costa Rica, as well as passenger and dedicated cargo services to and within the state of Alaska.

5 Day Chart for NYSE:ALK

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