Seaport Res Ptn Analysts Lower Earnings Estimates for Alaska Air Group, Inc. (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK) – Research analysts at Seaport Res Ptn cut their Q1 2024 EPS estimates for shares of Alaska Air Group in a note issued to investors on Monday, April 8th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will post earnings of ($1.10) per share for the quarter, down from their previous forecast of ($0.50). The consensus estimate for Alaska Air Group’s current full-year earnings is $4.67 per share. Seaport Res Ptn also issued estimates for Alaska Air Group’s FY2024 earnings at $4.55 EPS.

A number of other analysts have also recently weighed in on ALK. Evercore ISI upped their price target on shares of Alaska Air Group from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Susquehanna cut shares of Alaska Air Group from a “positive” rating to a “neutral” rating and upped their price target for the stock from $39.00 to $40.00 in a research report on Wednesday, January 10th. StockNews.com cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $44.00 to $51.00 in a research report on Tuesday, February 20th. Finally, TD Cowen boosted their price objective on shares of Alaska Air Group from $41.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Alaska Air Group currently has an average rating of “Moderate Buy” and a consensus price target of $57.44.

Alaska Air Group Stock Down 2.4 %

Shares of Alaska Air Group stock opened at $41.96 on Thursday. The company has a fifty day moving average price of $38.78 and a 200 day moving average price of $36.95. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 0.53. Alaska Air Group has a twelve month low of $30.75 and a twelve month high of $57.18. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 0.81 and a beta of 1.63.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.12. Alaska Air Group had a net margin of 2.25% and a return on equity of 14.72%. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the previous year, the company earned $0.92 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year.

Insiders Place Their Bets

In other news, EVP Andrew R. Harrison sold 6,500 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total value of $249,340.00. Following the sale, the executive vice president now owns 26,048 shares in the company, valued at approximately $999,201.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alaska Air Group

A number of institutional investors have recently modified their holdings of ALK. Private Advisor Group LLC raised its stake in shares of Alaska Air Group by 78.2% in the 1st quarter. Private Advisor Group LLC now owns 9,980 shares of the transportation company’s stock valued at $579,000 after purchasing an additional 4,379 shares in the last quarter. MetLife Investment Management LLC raised its stake in Alaska Air Group by 23.6% during the first quarter. MetLife Investment Management LLC now owns 34,204 shares of the transportation company’s stock worth $1,984,000 after acquiring an additional 6,520 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Alaska Air Group by 7.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,847 shares of the transportation company’s stock worth $977,000 after acquiring an additional 1,119 shares during the period. APG Asset Management N.V. acquired a new stake in Alaska Air Group during the first quarter worth about $980,000. Finally, Great West Life Assurance Co. Can raised its stake in Alaska Air Group by 3.4% during the first quarter. Great West Life Assurance Co. Can now owns 17,972 shares of the transportation company’s stock worth $1,077,000 after acquiring an additional 592 shares during the period. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.