Alaska Air Group, Inc. (ALK) Receives $76.81 Average PT from Analysts

Alaska Air Group, Inc. (NYSE:ALK) has been assigned a consensus rating of “Buy” from the nineteen research firms that are presently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $76.81.

Several brokerages have issued reports on ALK. Zacks Investment Research upgraded Alaska Air Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. upgraded Alaska Air Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $71.00 to $72.00 in a research report on Tuesday, April 30th. ValuEngine downgraded Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Deutsche Bank cut their price objective on Alaska Air Group from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Finally, Credit Suisse Group set a $76.00 price objective on Alaska Air Group and gave the company a “buy” rating in a research report on Friday, April 12th.

ALK traded down $0.66 during trading on Thursday, hitting $60.95. The company’s stock had a trading volume of 595,333 shares, compared to its average volume of 1,510,755. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.57 and a current ratio of 0.59. Alaska Air Group has a 12 month low of $53.39 and a 12 month high of $74.83. The company has a market cap of $7.60 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 0.62 and a beta of 0.84.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, April 25th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.04. Alaska Air Group had a return on equity of 14.97% and a net margin of 5.26%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $0.14 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, research analysts predict that Alaska Air Group will post 5.7 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.35 per share. The ex-dividend date is Monday, May 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.30%. Alaska Air Group’s payout ratio is currently 31.39%.

In related news, EVP Andrew R. Harrison sold 4,700 shares of Alaska Air Group stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $62.63, for a total transaction of $294,361.00. Following the completion of the sale, the executive vice president now directly owns 15,867 shares of the company’s stock, valued at $993,750.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew R. Harrison sold 1,600 shares of Alaska Air Group stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $61.53, for a total value of $98,448.00. Following the sale, the executive vice president now directly owns 20,567 shares of the company’s stock, valued at $1,265,487.51. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its stake in Alaska Air Group by 10.1% in the first quarter. State of Alaska Department of Revenue now owns 26,274 shares of the transportation company’s stock valued at $1,473,000 after acquiring an additional 2,409 shares during the period. Verity Asset Management Inc. lifted its holdings in shares of Alaska Air Group by 17.9% in the fourth quarter. Verity Asset Management Inc. now owns 5,407 shares of the transportation company’s stock valued at $329,000 after purchasing an additional 820 shares in the last quarter. BB&T Corp lifted its holdings in shares of Alaska Air Group by 6.7% in the first quarter. BB&T Corp now owns 83,138 shares of the transportation company’s stock valued at $4,666,000 after purchasing an additional 5,190 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Alaska Air Group by 1,222.5% in the fourth quarter. Nuveen Asset Management LLC now owns 160,409 shares of the transportation company’s stock valued at $9,761,000 after purchasing an additional 148,280 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Alaska Air Group by 18.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 457,190 shares of the transportation company’s stock valued at $27,818,000 after purchasing an additional 71,400 shares in the last quarter. 88.42% of the stock is owned by institutional investors and hedge funds.

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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