Alaska Air Group Inc. (ALK) Stock Price Down 1.3%
Alaska Air Group Inc. (NYSE:ALK) was down 1.3% during mid-day trading on Wednesday . The company traded as low as $56.45 and last traded at $57.87, with a volume of 1,157,485 shares trading hands. The stock had previously closed at $58.63.
A number of equities research analysts have issued reports on ALK shares. Buckingham Research reiterated a “buy” rating on shares of Alaska Air Group in a research note on Friday, April 15th. Bank of America Corp. upgraded Alaska Air Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 5th. Deutsche Bank AG reiterated a “buy” rating and issued a $86.00 target price on shares of Alaska Air Group in a research note on Sunday, April 10th. Cowen and Company restated a “buy” rating on shares of Alaska Air Group in a research note on Wednesday, June 15th. Finally, JPMorgan Chase & Co. upgraded shares of Alaska Air Group from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $77.00 to $82.00 in a research note on Monday, April 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $89.68.
The firm has a 50-day moving average price of $62.69 and a 200 day moving average price of $71.77. The company has a market cap of $7.22 billion and a PE ratio of 8.46.
Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, April 21st. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.03. The company earned $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company posted $1.12 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts expect that Alaska Air Group Inc. will post $7.17 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 7th. Shareholders of record on Tuesday, May 24th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.88%. The ex-dividend date was Friday, May 20th.
In other Alaska Air Group news, CFO Brandon Pedersen sold 13,794 shares of the stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $69.44, for a total value of $957,855.36. Following the completion of the sale, the chief financial officer now directly owns 13,360 shares in the company, valued at $927,718.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bradley D. Tilden sold 5,000 shares of the stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $82.36, for a total value of $411,800.00. Following the completion of the sale, the chief executive officer now owns 23,900 shares of the company’s stock, valued at $1,968,404. The disclosure for this sale can be found here.
Other large investors have made changes to their positions in the company. Liberty Mutual Group Asset Management Inc. increased its stake in shares of Alaska Air Group by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 82,087 shares of the company’s stock valued at $6,609,000 after buying an additional 27,861 shares during the period. Penserra Capital Management LLC purchased a new position in Alaska Air Group during the fourth quarter worth about $1,817,000. Regal Investment Advisors LLC increased its position in Alaska Air Group by 7.3% in the fourth quarter. Regal Investment Advisors LLC now owns 47,816 shares of the company’s stock worth $3,849,000 after buying an additional 3,248 shares during the last quarter. OppenheimerFunds Inc. increased its position in Alaska Air Group by 22.5% in the fourth quarter. OppenheimerFunds Inc. now owns 154,828 shares of the company’s stock worth $12,465,000 after buying an additional 28,398 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Alaska Air Group during the fourth quarter worth about $4,123,000.
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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