Alaska Air Group Inc. (ALK) Given “In-Line” Rating at Imperial Capital
Imperial Capital restated their in-line rating on shares of Alaska Air Group Inc. (NYSE:ALK) in a research report report published on Thursday morning. Imperial Capital currently has a $84.00 price objective on the stock.
Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised Alaska Air Group from a neutral rating to an overweight rating and set a $78.50 price target on the stock in a report on Wednesday, July 27th. Morgan Stanley reaffirmed a buy rating and issued a $85.00 price target on shares of Alaska Air Group in a report on Thursday, August 11th. Zacks Investment Research raised Alaska Air Group from a sell rating to a hold rating in a report on Tuesday, August 16th. Vetr cut Alaska Air Group from a strong-buy rating to a buy rating and set a $77.17 price target on the stock. in a report on Tuesday, September 6th. Finally, Credit Suisse Group AG set a $85.00 price target 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, five have issued a hold rating and nine have issued a buy rating to the stock. Alaska Air Group has an average rating of Hold and an average price target of $85.89.
Alaska Air Group (NYSE:ALK) opened at 82.96 on Thursday. The company has a 50 day moving average price of $73.51 and a 200 day moving average price of $67.26. 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 $10.23 billion, a price-to-earnings ratio of 11.63 and a beta of 0.71.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 20th. The company reported $2.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.13. Alaska Air Group had a return on equity of 34.91% and a net margin of 15.40%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the company earned $2.16 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts predict that Alaska Air Group will post $7.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Thursday, November 10th. Alaska Air Group’s dividend payout ratio is currently 15.41%.
In related news, Chairman Bradley D. Tilden sold 2,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $66.72, for a total value of $133,440.00. Following the completion of the transaction, the chairman now owns 23,900 shares of the company’s stock, valued at $1,594,608. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph A. Sprague sold 6,667 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $75.00, for a total transaction of $500,025.00. Following the completion of the transaction, the senior vice president now directly owns 6,620 shares of the company’s stock, valued at approximately $496,500. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ALK. Legal & General Group Plc raised its position in Alaska Air Group by 1,254.4% in the first quarter. Legal & General Group Plc now owns 89,090 shares of the company’s stock valued at $7,307,000 after buying an additional 82,512 shares during the period. Panagora Asset Management Inc. raised its position in Alaska Air Group by 10.2% in the first quarter. Panagora Asset Management Inc. now owns 220,524 shares of the company’s stock valued at $18,087,000 after buying an additional 20,475 shares during the period. Arizona State Retirement System raised its position in Alaska Air Group by 4.7% in the first quarter. Arizona State Retirement System now owns 68,415 shares of the company’s stock valued at $5,611,000 after buying an additional 3,100 shares during the period. First Republic Investment Management Inc. raised its position in 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. Finally, Origin Asset Management LLP acquired a new position in Alaska Air Group during the first quarter valued at about $4,921,000. 88.94% of the stock is owned by hedge funds and other 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.
Receive News & Stock Ratings for Alaska Air Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group Inc. and related stocks with our FREE daily email newsletter.