Alaska Air Group Inc. (ALK) Trading Up 2%
Alaska Air Group Inc. (NYSE:ALK) shares were up 2% during trading on Wednesday . The stock traded as high as $67.37 and last traded at $67.33, with a volume of 1,464,507 shares traded. The stock had previously closed at $66.00.
Several research analysts have commented on ALK shares. Cowen and Company restated a “buy” rating on shares of Alaska Air Group in a research report on Wednesday, June 15th. Sterne Agee CRT restated a “buy” rating on shares of Alaska Air Group in a research report on Monday, May 16th. Morgan Stanley restated a “buy” rating and issued a $85.00 target price on shares of Alaska Air Group in a research report on Thursday, August 11th. Zacks Investment Research upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Buckingham Research cut shares of Alaska Air Group from a “buy” rating to a “neutral” rating in a report on Friday, April 22nd. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Alaska Air Group has a consensus rating of “Buy” and an average target price of $88.23.
The company’s 50 day moving average is $63.99 and its 200 day moving average is $69.77. The stock has a market capitalization of $8.29 billion and a price-to-earnings ratio of 9.33.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, July 21st. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.09 by $0.03. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $1.76 EPS. Analysts forecast that Alaska Air Group Inc. will post $7.03 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Tuesday, August 16th.
In other news, Director Dennis F. Madsen sold 1,372 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $65.98, for a total transaction of $90,524.56. Following the completion of the sale, the director now owns 22,914 shares of the company’s stock, valued at approximately $1,511,865.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Tamara S. Young sold 1,859 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $66.77, for a total transaction of $124,125.43. Following the sale, the vice president now directly owns 3,490 shares of the company’s stock, valued at approximately $233,027.30. The disclosure for this sale can be found here.
Several hedge funds recently made changes to their positions in the company. State of Tennessee Treasury Department increased its stake in shares of Alaska Air Group by 22.6% in the fourth quarter. State of Tennessee Treasury Department now owns 379,330 shares of the company’s stock valued at $30,540,000 after buying an additional 70,000 shares during the period. Airain ltd purchased a new position in shares of Alaska Air Group during the fourth quarter worth about $1,328,000. KBC Group NV boosted its position in shares of Alaska Air Group by 57.5% in the fourth quarter. KBC Group NV now owns 35,601 shares of the company’s stock worth $2,866,000 after buying an additional 12,994 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Alaska Air Group by 43.7% in the fourth quarter. Advisors Asset Management Inc. now owns 37,607 shares of the company’s stock worth $3,028,000 after buying an additional 11,440 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Alaska Air Group by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 407,830 shares of the company’s stock worth $32,835,000 after buying an additional 4,172 shares in the last quarter.
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company operates through three segments: Alaska Mainline, Alaska Regional and Horizon. Its Alaska Mainline segment operates the Boeing 737 part of Alaska’s business. It offers north/south service within the western United States, Canada, Mexico and Costa Rica, as well as passenger and dedicated cargo services to and within the state of Alaska.
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