Alaska Air Group (ALK) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Alaska Air Group (NYSE:ALK) from a sell rating to a hold rating in a research note released on Monday, April 1st, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Alaska Air Group from a hold rating to a buy rating and set a $64.00 target price for the company in a research note on Monday, December 31st. Buckingham Research dropped their price target on shares of Alaska Air Group from $88.00 to $80.00 and set a buy rating for the company in a research report on Friday, March 8th. TheStreet lowered shares of Alaska Air Group from a b- rating to a c rating in a research report on Thursday, January 24th. Vertical Research initiated coverage on shares of Alaska Air Group in a research report on Monday, February 4th. They issued a hold rating for the company. Finally, JPMorgan Chase & Co. raised shares of Alaska Air Group from an underweight rating to a neutral rating and set a $67.00 price target for the company in a research report on Thursday, January 10th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $75.77.

ALK stock traded up $1.45 during mid-day trading on Monday, reaching $60.62. 2,407,165 shares of the stock traded hands, compared to its average volume of 1,689,141. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.61 and a quick ratio of 0.59. Alaska Air Group has a 52 week low of $53.39 and a 52 week high of $74.83. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 0.70 and a beta of 0.81.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, April 25th. The transportation company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.04. Alaska Air Group had a net margin of 5.29% and a return on equity of 15.20%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company earned $0.14 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. Equities analysts expect that Alaska Air Group will post 6.05 EPS for the current fiscal year.

In related news, EVP Andrew R. Harrison sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $62.93, for a total value of $251,720.00. Following the completion of the sale, the executive vice president now owns 22,167 shares of the company’s stock, valued at $1,394,969.31. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Brandon Pedersen sold 4,026 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $62.00, for a total transaction of $249,612.00. Following the completion of the sale, the vice president now directly owns 26,524 shares of the company’s stock, valued at approximately $1,644,488. The disclosure for this sale can be found here. In the last three months, insiders sold 8,776 shares of company stock valued at $551,687. 0.43% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in ALK. MML Investors Services LLC boosted its stake in Alaska Air Group by 63.9% in the third quarter. MML Investors Services LLC now owns 6,743 shares of the transportation company’s stock valued at $464,000 after acquiring an additional 2,628 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Alaska Air Group by 28.7% during the third quarter. Janus Henderson Group PLC now owns 8,794 shares of the transportation company’s stock worth $606,000 after purchasing an additional 1,959 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Alaska Air Group by 0.4% during the third quarter. Bank of New York Mellon Corp now owns 1,330,179 shares of the transportation company’s stock worth $91,595,000 after purchasing an additional 5,394 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Alaska Air Group by 5.0% during the third quarter. PNC Financial Services Group Inc. now owns 43,714 shares of the transportation company’s stock worth $3,011,000 after purchasing an additional 2,087 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Alaska Air Group by 1.2% during the third quarter. BlackRock Inc. now owns 6,917,114 shares of the transportation company’s stock worth $476,313,000 after purchasing an additional 82,310 shares in the last quarter. 88.17% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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