Alaska Air Group Inc. (ALK) Earns Neutral Rating from Analysts at Citigroup Inc.
Analysts at Citigroup Inc. initiated coverage on shares of Alaska Air Group Inc. (NYSE:ALK) in a report issued on Friday. The brokerage set a “neutral” rating on the stock.
A number of other equities research analysts have also issued reports on the stock. Vetr raised shares of Alaska Air Group from a “buy” rating to a “strong-buy” rating and set a $81.75 price objective for the company in a report on Wednesday, September 7th. Bank of America Corp. reissued a “neutral” rating and issued a $78.00 target price (up from $72.00) on shares of Alaska Air Group in a report on Sunday, October 23rd. Zacks Investment Research raised shares of Alaska Air Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Imperial Capital assumed coverage on shares of Alaska Air Group in a report on Friday, September 23rd. They issued an “in-line” rating and a $74.00 target price for the company. Finally, Buckingham Research raised shares of Alaska Air Group from a “neutral” rating to a “buy” rating and set a $84.00 target price for the company in a report on Thursday, October 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $86.27.
Shares of Alaska Air Group (NYSE:ALK) opened at 78.85 on Friday. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 11.06 and a beta of 0.71. Alaska Air Group has a 12-month low of $54.51 and a 12-month high of $87.17. The company’s 50-day moving average is $71.96 and its 200-day moving average is $66.96.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, October 20th. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.13. Alaska Air Group had a net margin of 15.40% and a return on equity of 34.91%. The business earned $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the firm posted $2.16 EPS. The company’s revenue was up 3.4% on a year-over-year basis. Analysts predict that Alaska Air Group will post $7.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.10 annualized dividend and a dividend yield of 1.40%. Alaska Air Group’s payout ratio is currently 15.41%.
In related news, VP Tamara S. Young sold 2,000 shares of Alaska Air Group stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $67.37, for a total value of $134,740.00. Following the completion of the sale, the vice president now directly owns 3,490 shares in the company, valued at $235,121.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brandon Pedersen sold 9,943 shares of Alaska Air Group stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $70.52, for a total value of $701,180.36. Following the completion of the sale, the vice president now owns 13,360 shares of the company’s stock, valued at $942,147.20. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in ALK. Tower Research Capital LLC TRC increased its stake 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 last quarter. Pacer Advisors Inc. raised its position in Alaska Air Group by 9.1% in the second quarter. Pacer Advisors Inc. now owns 2,169 shares of the company’s stock valued at $126,000 after buying an additional 181 shares during the period. SRB Corp raised its position in Alaska Air Group by 8.4% in the third quarter. SRB Corp now owns 2,301 shares of the company’s stock valued at $152,000 after buying an additional 179 shares during the period. Daiwa Securities Group Inc. bought a new position in Alaska Air Group during the third quarter valued at about $165,000. Finally, Toronto Dominion Bank bought a new position in Alaska Air Group during the third quarter valued at about $167,000. Hedge funds and other institutional investors own 89.26% of the company’s stock.
Alaska Air Group Company Profile
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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