Alaska Air Group Inc. (ALK) Trading 2.7% Higher
Shares of Alaska Air Group Inc. (NYSE:ALK) traded up 2.7% during mid-day trading on Thursday . The company traded as high as $64.89 and last traded at $64.86, with a volume of 2,132,143 shares trading hands. The stock had previously closed at $63.17.
A number of analysts recently issued reports on the company. Deutsche Bank AG reiterated a “buy” rating on shares of Alaska Air Group in a report on Saturday, April 2nd. Credit Suisse Group AG restated a “hold” rating on shares of Alaska Air Group in a report on Thursday, April 7th. Vetr upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $88.50 target price for the company in a report on Monday, April 18th. Raymond James Financial Inc. lowered Alaska Air Group from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $105.00 to $88.00 in a report on Tuesday, June 14th. Finally, Zacks Investment Research lowered Alaska Air Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $89.68.
The company has a market cap of $8.02 billion and a P/E ratio of 9.40. The firm has a 50 day moving average of $61.91 and a 200 day moving average of $70.91.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, April 21st. The company reported $1.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.03. The business earned $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm earned $1.12 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, analysts anticipate that Alaska Air Group Inc. will post $7.09 earnings per share for the current fiscal year.
In other news, CEO Bradley D. Tilden sold 5,000 shares of Alaska Air Group stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $60.11, for a total transaction of $300,550.00. Following the completion of the sale, the chief executive officer now directly owns 23,900 shares of the company’s stock, valued at approximately $1,436,629. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 13,813 shares of Alaska Air Group stock in a transaction on Friday, April 22nd. The stock was sold at an average price of $76.04, for a total transaction of $1,050,340.52. Following the sale, the executive vice president now directly owns 9,220 shares of the company’s stock, valued at $701,088.80. The disclosure for this sale can be found here.
Other large investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in Alaska Air Group by 12.8% in the fourth quarter. ProShare Advisors LLC now owns 12,525 shares of the company’s stock valued at $1,008,000 after buying an additional 1,420 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in Alaska Air Group during the fourth quarter valued at about $1,070,000. US Bancorp DE boosted its stake in Alaska Air Group by 28.9% in the fourth quarter. US Bancorp DE now owns 17,867 shares of the company’s stock valued at $1,438,000 after buying an additional 4,011 shares during the period. EQIS Capital Management boosted its stake in Alaska Air Group by 214.1% in the fourth quarter. EQIS Capital Management now owns 18,992 shares of the company’s stock valued at $1,529,000 after buying an additional 12,946 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in Alaska Air Group during the fourth quarter valued at about $1,817,000.
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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