Alaska Air Group, Inc. (NYSE:ALK) had its price target reduced by Bank of America Corporation from $100.00 to $96.00 in a research note issued to investors on Friday. They currently have a buy rating on the transportation company’s stock.

Several other research firms have also issued reports on ALK. BidaskClub raised shares of 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 shares of 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 reissued an outperform rating and issued a $103.00 price target on shares of Alaska Air Group in a research report on Tuesday, June 20th. Zacks Investment Research raised shares of 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, Barclays PLC reissued a buy rating on shares of Alaska Air Group in a research report on Thursday, September 14th. Two equities research 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 stock has a consensus rating of Buy and an average price target of $103.15.

Shares of Alaska Air Group (ALK) traded up 0.70% during trading on Friday, reaching $80.96. The company’s stock had a trading volume of 1,326,165 shares. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of 13.17 and a beta of 0.99. The company’s 50-day moving average price is $76.24 and its 200 day moving average price is $84.66. Alaska Air Group has a 1-year low of $69.12 and a 1-year high of $101.43.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period last year, the company earned $2.12 EPS. The business’s revenue for the quarter was up 40.7% on a year-over-year basis. Analysts anticipate that Alaska Air Group will post $7.43 EPS for the current year.

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In other news, EVP Andrew R. Harrison sold 2,350 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $86.03, for a total transaction of $202,170.50. Following the sale, the executive vice president now directly owns 21,328 shares of the company’s stock, valued at $1,834,847.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bradley D. Tilden sold 2,400 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $85.83, for a total transaction of $205,992.00. Following the sale, the chairman now directly owns 140,346 shares in the company, valued at $12,045,897.18. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc bought a new stake in shares of Alaska Air Group during the second quarter valued at approximately $122,000. Bessemer Group Inc. grew its stake in shares of Alaska Air Group by 57.9% during the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after purchasing an additional 695 shares during the last quarter. Rehmann Capital Advisory Group bought a new stake in shares of Alaska Air Group during the second quarter valued at approximately $201,000. Smithfield Trust Co. grew its stake in shares of Alaska Air Group by 8.6% during the second quarter. Smithfield Trust Co. now owns 2,391 shares of the transportation company’s stock valued at $215,000 after purchasing an additional 189 shares during the last quarter. Finally, Insight Capital Research & Management Inc. bought a new stake in shares of Alaska Air Group during the second quarter valued at approximately $215,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

About Alaska Air Group

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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