Alaska Air Group, Inc. (NYSE:ALK)‘s stock had its “buy” rating reaffirmed by equities research analysts at Barclays PLC in a research report issued on Thursday.

A number of other brokerages also recently issued reports on ALK. BidaskClub upgraded Alaska Air Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Morgan Stanley dropped their price target on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Monday, July 17th. Cowen and Company reiterated an “outperform” rating and set a $103.00 price target on shares of Alaska Air Group in a research report on Tuesday, June 20th. Zacks Investment Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research report on Tuesday, July 4th. Finally, Bank of America Corporation lifted their price target on Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, June 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $106.55.

Alaska Air Group (NYSE ALK) opened at 75.28 on Thursday. The firm has a market cap of $9.30 billion, a P/E ratio of 12.24 and a beta of 1.00. Alaska Air Group has a 52 week low of $64.19 and a 52 week high of $101.43. The firm’s 50-day moving average price is $79.30 and its 200 day moving average price is $87.26.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing the consensus estimate of $2.52 by ($0.01). Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the business earned $2.12 EPS. The firm’s revenue for the quarter was up 40.7% compared to the same quarter last year. Equities analysts forecast that Alaska Air Group will post $7.67 earnings per share for the current fiscal year.

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In related news, Chairman Bradley D. Tilden sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total transaction of $205,992.00. Following the transaction, the chairman now directly owns 140,346 shares of the company’s stock, valued at approximately $12,045,897.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Bradley D. Tilden sold 5,600 shares of the firm’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $94.48, for a total value of $529,088.00. Following the transaction, the chairman now directly owns 145,546 shares in the company, valued at $13,751,186.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,350 shares of company stock worth $937,251. 0.57% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Schroder Investment Management Group raised its holdings in shares of Alaska Air Group by 41.2% during the 2nd quarter. Schroder Investment Management Group now owns 773,245 shares of the transportation company’s stock valued at $68,897,000 after buying an additional 225,600 shares in the last quarter. Two Sigma Securities LLC purchased a new position in shares of Alaska Air Group during the 1st quarter valued at about $955,000. Oxford Asset Management purchased a new position in shares of Alaska Air Group during the 1st quarter valued at about $3,425,000. Baltimore Capital Management Inc. raised its holdings in shares of Alaska Air Group by 505.0% during the 2nd quarter. Baltimore Capital Management Inc. now owns 38,570 shares of the transportation company’s stock valued at $3,462,000 after buying an additional 32,195 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Alaska Air Group by 149.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock valued at $110,457,000 after buying an additional 737,020 shares in the last quarter. 88.34% of the stock is currently owned by institutional investors.

Alaska Air Group Company Profile

Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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