Alaska Air Group, Inc. (NYSE:ALK) has been assigned an average rating of “Buy” from the thirteen brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $105.85.
A number of equities research analysts have recently issued reports on ALK shares. BidaskClub raised shares of Alaska Air Group from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Morgan Stanley dropped their price objective on shares of Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating for the company in a report on Monday, July 17th. Cowen and Company reaffirmed an “outperform” rating and issued a $103.00 target price on shares of Alaska Air Group in a research report on Tuesday, June 20th. Zacks Investment Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Tuesday, July 4th. Finally, Bank of America Corporation raised their target price on shares of Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, June 30th.
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In related news, Chairman Bradley D. Tilden sold 5,600 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $94.48, for a total transaction of $529,088.00. Following the transaction, the chairman now directly owns 145,546 shares of the company’s stock, valued at approximately $13,751,186.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joseph A. Sprague sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $90.85, for a total value of $635,950.00. Following the sale, the senior vice president now directly owns 7,191 shares in the company, valued at $653,302.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,550 shares of company stock valued at $2,547,642. 0.57% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of ALK. Bessemer Group Inc. raised its stake in Alaska Air Group by 57.9% in the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after buying an additional 695 shares in the last quarter. Twin Tree Management LP bought a new position in shares of Alaska Air Group during the first quarter worth approximately $179,000. Assetmark Inc. increased its position in shares of Alaska Air Group by 70.3% in the first quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock worth $187,000 after buying an additional 837 shares during the last quarter. Rehmann Capital Advisory Group bought a new position in shares of Alaska Air Group during the second quarter worth approximately $201,000. Finally, Verity Asset Management Inc. bought a new position in shares of Alaska Air Group during the first quarter worth approximately $218,000. 93.43% of the stock is currently owned by institutional investors and hedge funds.
Alaska Air Group (NYSE ALK) traded up 0.638% during trading on Monday, hitting $84.325. 486,523 shares of the company’s stock traded hands. Alaska Air Group has a 12 month low of $64.19 and a 12 month high of $101.43. The stock has a market cap of $10.42 billion, a P/E ratio of 13.714 and a beta of 0.95. The company’s 50 day moving average is $89.00 and its 200-day moving average is $90.62.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.52 by $0.01. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The business’s revenue was up 40.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.12 earnings per share. On average, analysts predict that Alaska Air Group will post $7.87 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, August 18th. Alaska Air Group’s dividend payout ratio is presently 19.48%.
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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