Alaska Air Group (NYSE:ALK) PT Lowered to $40.00 at Raymond James

Alaska Air Group (NYSE:ALK) had its price target cut by Raymond James from $84.00 to $40.00 in a research report report published on Monday, The Fly reports. They currently have a strong-buy rating on the transportation company’s stock.

ALK has been the topic of several other reports. Deutsche Bank downgraded Alaska Air Group from a buy rating to a hold rating and set a $80.00 price objective on the stock. in a research report on Thursday, February 27th. Buckingham Research downgraded Alaska Air Group from a buy rating to a neutral rating and reduced their price objective for the company from $84.00 to $51.00 in a research report on Thursday, February 27th. TheStreet downgraded Alaska Air Group from a b- rating to a c+ rating in a research report on Monday, March 2nd. ValuEngine downgraded Alaska Air Group from a hold rating to a sell rating in a research report on Tuesday, February 4th. Finally, Goldman Sachs Group downgraded Alaska Air Group from a conviction-buy rating to a buy rating in a research report on Monday, March 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $63.31.

ALK traded up $2.65 during trading on Monday, reaching $32.49. 4,914,541 shares of the stock were exchanged, compared to its average volume of 2,283,514. The business’s 50 day moving average price is $50.04 and its two-hundred day moving average price is $62.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.61. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 5.24, a P/E/G ratio of 0.66 and a beta of 1.11. Alaska Air Group has a 1 year low of $20.02 and a 1 year high of $72.22.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Tuesday, January 28th. The transportation company reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.05. Alaska Air Group had a return on equity of 19.58% and a net margin of 8.76%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the business earned $0.75 earnings per share. Alaska Air Group’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts anticipate that Alaska Air Group will post 3.01 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Tuesday, February 18th were given a dividend of $0.375 per share. The ex-dividend date was Friday, February 14th. This is an increase from Alaska Air Group’s previous quarterly dividend of $0.35. This represents a $1.50 annualized dividend and a yield of 4.62%. Alaska Air Group’s dividend payout ratio is 23.36%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALK. Cambridge Investment Research Advisors Inc. grew its stake in shares of Alaska Air Group by 3.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 5,255 shares of the transportation company’s stock valued at $356,000 after buying an additional 155 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in shares of Alaska Air Group by 52.7% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 475 shares of the transportation company’s stock valued at $32,000 after buying an additional 164 shares in the last quarter. LS Investment Advisors LLC grew its stake in shares of Alaska Air Group by 3.1% in the fourth quarter. LS Investment Advisors LLC now owns 5,910 shares of the transportation company’s stock valued at $400,000 after buying an additional 175 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Alaska Air Group by 6.2% in the fourth quarter. Lindbrook Capital LLC now owns 3,185 shares of the transportation company’s stock valued at $216,000 after buying an additional 185 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of Alaska Air Group by 1.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 18,907 shares of the transportation company’s stock valued at $1,281,000 after buying an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 88.40% 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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