Alaska Air Group, Inc. (ALK) Given Buy Rating at Barclays PLC
Alaska Air Group, Inc. (NYSE:ALK)‘s stock had its “buy” rating restated by Barclays PLC in a research report issued on Thursday.
A number of other equities research analysts have also recently commented on ALK. BidaskClub upgraded Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Morgan Stanley decreased their price target on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research note on Monday, July 17th. Cowen and Company reiterated an “outperform” rating and issued a $103.00 price target on shares of Alaska Air Group in a research note on Tuesday, June 20th. Zacks Investment Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research note on Tuesday, July 4th. Finally, Bank of America Corporation increased their price target on Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $106.85.
Shares of Alaska Air Group (NYSE ALK) opened at 76.21 on Thursday. Alaska Air Group has a 12-month low of $64.19 and a 12-month high of $101.43. The company has a market capitalization of $9.41 billion, a P/E ratio of 12.39 and a beta of 1.00. The company has a 50-day moving average price of $80.26 and a 200 day moving average price of $87.58.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.01). The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The company’s revenue for the quarter was up 40.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.12 earnings per share. On average, equities analysts anticipate that Alaska Air Group will post $7.67 earnings per share for the current fiscal year.
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In related news, Chairman Bradley D. Tilden sold 5,600 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $94.48, for a total transaction of $529,088.00. Following the sale, the chairman now directly owns 145,546 shares of the company’s stock, valued at $13,751,186.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Bradley D. Tilden sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total value of $205,992.00. Following the sale, the chairman now directly owns 140,346 shares in the company, valued at $12,045,897.18. The disclosure for this sale can be found here. Insiders sold 10,350 shares of company stock worth $937,251 over the last three months. Corporate insiders own 0.57% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ALK. Strs Ohio grew its holdings in Alaska Air Group by 22.2% during the first quarter. Strs Ohio now owns 5,555 shares of the transportation company’s stock worth $512,000 after acquiring an additional 1,008 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new stake in Alaska Air Group during the first quarter worth about $303,000. American Century Companies Inc. grew its holdings in Alaska Air Group by 19.5% during the first quarter. American Century Companies Inc. now owns 70,151 shares of the transportation company’s stock worth $6,469,000 after acquiring an additional 11,440 shares during the period. Comerica Bank grew its holdings in Alaska Air Group by 1.9% during the first quarter. Comerica Bank now owns 30,966 shares of the transportation company’s stock worth $2,630,000 after acquiring an additional 572 shares during the period. Finally, LS Investment Advisors LLC grew its holdings in Alaska Air Group by 15.3% during the first quarter. LS Investment Advisors LLC now owns 2,836 shares of the transportation company’s stock worth $262,000 after acquiring an additional 377 shares during the period. 88.34% of the stock is currently owned by hedge funds and other institutional investors.
About Alaska Air Group
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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