Alaska Air Group, Inc. (NYSE:ALK) Receives Average Rating of “Buy” from Brokerages

Alaska Air Group, Inc. (NYSE:ALK) has received an average recommendation of “Buy” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Thirteen investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have covered the stock in the last year is $77.00.

ALK has been the topic of a number of research analyst reports. Bank of America lifted their target price on Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, January 17th. The Goldman Sachs Group boosted their target price on shares of Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. UBS Group reduced their target price on shares of Alaska Air Group from $87.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, March 20th. TD Cowen upped their price target on Alaska Air Group from $85.00 to $110.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Susquehanna raised Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price objective for the company in a research note on Tuesday, January 7th.

Insider Activity

In other Alaska Air Group news, EVP Andrew R. Harrison sold 91,745 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $71.14, for a total transaction of $6,526,739.30. Following the transaction, the executive vice president now owns 20,638 shares in the company, valued at $1,468,187.32. This trade represents a 81.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joseph A. Sprague sold 9,500 shares of Alaska Air Group stock in a transaction on Friday, January 24th. The stock was sold at an average price of $68.90, for a total transaction of $654,550.00. Following the completion of the transaction, the chief executive officer now owns 9,840 shares in the company, valued at $677,976. This trade represents a 49.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,725 shares of company stock worth $11,217,263 in the last 90 days. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Alaska Air Group

Several hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its position in shares of Alaska Air Group by 11.2% during the third quarter. Victory Capital Management Inc. now owns 28,316 shares of the transportation company’s stock valued at $1,280,000 after purchasing an additional 2,858 shares during the period. Natixis Advisors LLC increased its holdings in Alaska Air Group by 54.2% in the 3rd quarter. Natixis Advisors LLC now owns 19,147 shares of the transportation company’s stock valued at $866,000 after buying an additional 6,734 shares during the period. Prospera Financial Services Inc increased its holdings in Alaska Air Group by 9.8% in the 3rd quarter. Prospera Financial Services Inc now owns 7,763 shares of the transportation company’s stock valued at $351,000 after buying an additional 695 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Alaska Air Group by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company’s stock valued at $72,054,000 after buying an additional 6,977 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alaska Air Group by 45.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock worth $64,300,000 after acquiring an additional 442,331 shares during the period. Institutional investors own 81.90% of the company’s stock.

Alaska Air Group Stock Down 2.2 %

ALK stock opened at $49.24 on Tuesday. The firm’s 50-day moving average is $65.72 and its two-hundred day moving average is $57.74. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 0.43 and a beta of 1.50. Alaska Air Group has a 52 week low of $32.62 and a 52 week high of $78.08.

Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. On average, analysts forecast that Alaska Air Group will post 6.03 earnings per share for the current fiscal year.

About Alaska Air Group

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.