Vetr Inc. Downgrades Alaska Air Group Inc. (ALK) to Sell
Alaska Air Group Inc. (NYSE:ALK) was downgraded by equities research analysts at Vetr from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday. They presently have a $72.00 price target on the stock. Vetr‘s price target suggests a potential downside of 4.29% from the stock’s previous close.
A number of other equities research analysts have also recently commented on the company. Bank of America Corp. reiterated a “neutral” rating and set a $78.00 target price (up previously from $72.00) on shares of Alaska Air Group in a report on Sunday, October 23rd. Imperial Capital increased their target price on Alaska Air Group from $74.00 to $84.00 and gave the company an “in-line” rating in a report on Friday, October 21st. Zacks Investment Research cut Alaska Air Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 18th. Buckingham Research upgraded Alaska Air Group from a “neutral” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Thursday, October 13th. Finally, Credit Suisse Group AG set a $85.00 target price on Alaska Air Group and gave the company a “buy” rating in a report on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $86.27.
Shares of Alaska Air Group (NYSE:ALK) opened at 75.23 on Thursday. Alaska Air Group has a 12-month low of $54.51 and a 12-month high of $87.17. The stock has a market cap of $9.27 billion, a P/E ratio of 10.55 and a beta of 0.71. The company 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 announced its earnings results on Thursday, October 20th. The company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.13. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Alaska Air Group had a return on equity of 34.91% and a net margin of 15.40%. Alaska Air Group’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.16 EPS. Analysts anticipate that Alaska Air Group will post $7.01 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, November 10th. Alaska Air Group’s dividend payout ratio (DPR) is presently 15.41%.
In other Alaska Air Group news, VP Mark G. Eliasen sold 2,200 shares of the firm’s stock in a transaction dated 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 directly owns 3,040 shares of the company’s stock, valued at $199,424. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Tamara S. Young sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $67.37, for a total value of $134,740.00. Following the completion of the transaction, the vice president now directly owns 3,490 shares in the company, valued at $235,121.30. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its position in Alaska Air Group by 146.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,077 shares of the company’s stock valued at $121,000 after buying an additional 1,233 shares during the period. Pacer Advisors Inc. raised its stake in shares of Alaska Air Group by 9.1% in the second quarter. Pacer Advisors Inc. now owns 2,169 shares of the company’s stock worth $126,000 after buying an additional 181 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Alaska Air Group during the third quarter worth about $165,000. Toronto Dominion Bank acquired a new stake in shares of Alaska Air Group during the third quarter worth about $167,000. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in shares of Alaska Air Group during the second quarter worth about $175,000. 88.35% 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.
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