Alaska Air Group, Inc. (ALK) Given New $101.00 Price Target at Imperial Capital
Other equities research analysts also recently issued research reports about the company. Buckingham Research upgraded Alaska Air Group from a neutral rating to a buy rating and set a $84.00 price objective for the company in a report on Thursday, October 13th. Zacks Investment Research downgraded Alaska Air Group from a hold rating to a sell rating in a report on Tuesday, October 18th. Vetr downgraded Alaska Air Group from a buy rating to a sell rating and set a $72.00 price objective for the company. in a report on Thursday, October 20th. Bank of America Corporation reiterated a neutral rating and issued a $78.00 price objective (up previously from $72.00) on shares of Alaska Air Group in a report on Sunday, October 23rd. Finally, Citigroup Inc. began coverage on Alaska Air Group in a report on Friday, November 18th. They issued a neutral rating and a $81.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $93.01.
Shares of Alaska Air Group (NYSE:ALK) traded up 0.03% during midday trading on Friday, hitting $96.69. The stock had a trading volume of 1,296,940 shares. Alaska Air Group has a one year low of $54.51 and a one year high of $98.89. The firm’s 50-day moving average is $93.41 and its 200 day moving average is $78.43. The company has a market capitalization of $11.92 billion, a PE ratio of 14.78 and a beta of 0.80.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, February 8th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.16. Alaska Air Group had a return on equity of 33.50% and a net margin of 13.72%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts expect that Alaska Air Group will post $8.03 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 9th. Shareholders of record on Tuesday, February 21st will be issued a $0.30 dividend. This is an increase from Alaska Air Group’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Thursday, February 16th. Alaska Air Group’s dividend payout ratio is 16.79%.
In other news, EVP Andrew R. Harrison sold 6,580 shares of the company’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $98.19, for a total transaction of $646,090.20. Following the completion of the transaction, the executive vice president now directly owns 16,555 shares of the company’s stock, valued at $1,625,535.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Benito Minicucci sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $95.00, for a total value of $475,000.00. Following the transaction, the chief operating officer now directly owns 19,130 shares of the company’s stock, valued at $1,817,350. The disclosure for this sale can be found here. Insiders sold 50,962 shares of company stock valued at $4,694,332 over the last 90 days. Corporate insiders own 0.68% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cypress Capital Management LLC WY purchased a new position in Alaska Air Group during the second quarter valued at $462,000. Sequoia Financial Advisors LLC boosted its position in Alaska Air Group by 10.3% in the second quarter. Sequoia Financial Advisors LLC now owns 33,919 shares of the company’s stock valued at $1,977,000 after buying an additional 3,176 shares in the last quarter. Nordea Investment Management AB boosted its position in Alaska Air Group by 178.0% in the second quarter. Nordea Investment Management AB now owns 34,200 shares of the company’s stock valued at $1,994,000 after buying an additional 21,900 shares in the last quarter. BB&T Corp boosted its position in Alaska Air Group by 123.9% in the second quarter. BB&T Corp now owns 114,860 shares of the company’s stock valued at $6,696,000 after buying an additional 63,550 shares in the last quarter. Finally, Anchor Capital Advisors LLC boosted its position in Alaska Air Group by 0.9% in the second quarter. Anchor Capital Advisors LLC now owns 13,636 shares of the company’s stock valued at $795,000 after buying an additional 121 shares in the last quarter. 89.01% of the stock is owned by institutional investors.
About Alaska Air Group
Alaska Air Group, Inc is a holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company’s segments include 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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