Analysts Set Alaska Air Group Inc. (ALK) PT at $84.25
Alaska Air Group Inc. (NYSE:ALK) has received an average recommendation of “Hold” from the sixteen brokerages that are currently covering the stock. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $84.25.
A number of research firms have weighed in on ALK. Credit Suisse Group AG set a $85.00 price objective on Alaska Air Group and gave the company a “buy” rating in a research note on Tuesday, September 13th. JPMorgan Chase & Co. upgraded Alaska Air Group from a “neutral” rating to an “overweight” rating and set a $78.50 price objective for the company in a research note on Wednesday, July 27th. Morgan Stanley reiterated a “buy” rating and set a $85.00 price objective on shares of Alaska Air Group in a research note on Thursday, August 11th. Imperial Capital lifted their price objective on Alaska Air Group from $74.00 to $84.00 and gave the company an “in-line” rating in a research note on Friday, October 21st. Finally, Vetr lowered Alaska Air Group from a “hold” rating to a “sell” rating and set a $72.00 price objective for the company. in a research note on Thursday.
In other news, VP Tamara S. Young sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $67.37, for a total transaction of $134,740.00. Following the transaction, the vice president now directly owns 3,490 shares in the company, valued at approximately $235,121.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Mark G. Eliasen sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $65.60, for a total value of $144,320.00. Following the transaction, the vice president now owns 3,040 shares in the company, valued at $199,424. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ALK. Epoch Investment Partners Inc. boosted its position in shares of Alaska Air Group by 29.1% in the third quarter. Epoch Investment Partners Inc. now owns 39,351 shares of the company’s stock valued at $2,591,000 after buying an additional 8,868 shares in the last quarter. Stephens Inc. AR boosted its position in Alaska Air Group by 2.5% in the third quarter. Stephens Inc. AR now owns 6,401 shares of the company’s stock worth $422,000 after buying an additional 155 shares in the last quarter. Morgan Stanley boosted its position in Alaska Air Group by 10.2% in the third quarter. Morgan Stanley now owns 1,251,066 shares of the company’s stock worth $82,396,000 after buying an additional 116,075 shares in the last quarter. Riverhead Capital Management LLC boosted its position in Alaska Air Group by 561.5% in the third quarter. Riverhead Capital Management LLC now owns 84,259 shares of the company’s stock worth $5,549,000 after buying an additional 71,521 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Alaska Air Group by 139.8% in the third quarter. Principal Financial Group Inc. now owns 467,974 shares of the company’s stock worth $30,821,000 after buying an additional 272,795 shares in the last quarter. Institutional investors and hedge funds own 88.35% of the company’s stock.
Alaska Air Group (NYSE:ALK) opened at 75.23 on Tuesday. Alaska Air Group has a 52 week low of $54.51 and a 52 week high of $87.17. The company has a market cap of $9.27 billion, a P/E ratio of 10.55 and a beta of 0.71. The firm has a 50-day moving average price of $70.57 and a 200 day moving average price of $66.80.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, October 20th. The company reported $2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.13. The business earned $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. Alaska Air Group had a return on equity of 34.91% and a net margin of 15.40%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $2.16 EPS. Analysts expect that Alaska Air Group will post $7.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Thursday, November 10th. Alaska Air Group’s dividend payout ratio is currently 15.41%.
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.
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