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.
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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