ValuEngine Lowers Alaska Air Group (NYSE:ALK) to Sell

ValuEngine lowered shares of Alaska Air Group (NYSE:ALK) from a hold rating to a sell rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other research firms also recently weighed in on ALK. Deutsche Bank reduced their target price on Alaska Air Group from $73.00 to $68.00 and set a buy rating on the stock in a research report on Friday, April 26th. Morgan Stanley increased their target price on Alaska Air Group from $76.00 to $81.00 and gave the stock an overweight rating in a research report on Monday, May 20th. Credit Suisse Group set a $76.00 target price on Alaska Air Group and gave the stock a buy rating in a research report on Friday, April 12th. Bank of America reiterated a neutral rating and set a $62.00 target price (down from $70.00) on shares of Alaska Air Group in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. upgraded Alaska Air Group from a neutral rating to an overweight rating and increased their target price for the stock from $71.00 to $72.00 in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $73.21.

NYSE ALK traded up $0.13 during trading hours on Thursday, hitting $63.27. 1,021,117 shares of the company’s stock were exchanged, compared to its average volume of 1,148,860. The stock has a 50 day simple moving average of $63.60. Alaska Air Group has a 12-month low of $53.39 and a 12-month high of $74.83. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.49 and a beta of 0.86. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 0.75.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, July 25th. The transportation company reported $2.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.06. Alaska Air Group had a return on equity of 16.28% and a net margin of 6.00%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the business posted $1.66 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that Alaska Air Group will post 5.93 EPS for the current fiscal year.

In other news, EVP Andrew R. Harrison sold 4,700 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $62.63, for a total value of $294,361.00. Following the completion of the sale, the executive vice president now owns 15,867 shares in the company, valued at $993,750.21. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kyle B. Levine sold 2,430 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $157,950.00. Following the completion of the sale, the vice president now owns 8,039 shares of the company’s stock, valued at approximately $522,535. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,730 shares of company stock worth $550,759. Company insiders own 0.43% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Usca Ria LLC bought a new position in Alaska Air Group during the 2nd quarter worth approximately $1,740,000. Comerica Bank lifted its holdings in shares of Alaska Air Group by 10.1% in the 2nd quarter. Comerica Bank now owns 101,381 shares of the transportation company’s stock worth $6,466,000 after purchasing an additional 9,286 shares during the last quarter. TRUE Private Wealth Advisors bought a new stake in shares of Alaska Air Group in the 2nd quarter worth approximately $25,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Alaska Air Group in the 2nd quarter worth approximately $189,000. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of Alaska Air Group by 4.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 926,350 shares of the transportation company’s stock worth $59,203,000 after purchasing an additional 39,288 shares during the last quarter. Institutional investors and hedge funds own 88.33% of the company’s stock.

About Alaska Air Group

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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Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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