Alaska Air Group (NYSE:ALK) Announces Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Alaska Air Group (NYSE:ALK) released its earnings results on Thursday. The transportation company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.17, RTT News reports. Alaska Air Group had a return on equity of 14.72% and a net margin of 2.25%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the firm posted ($0.62) EPS. Alaska Air Group’s revenue for the quarter was up 1.6% on a year-over-year basis.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $45.02 on Friday. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 0.86 and a beta of 1.63. The stock has a 50 day simple moving average of $39.68 and a 200-day simple moving average of $37.22. Alaska Air Group has a 12-month low of $30.75 and a 12-month high of $57.18. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 0.53.

Insider Buying and Selling

In related news, EVP Andrew R. Harrison sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total value of $249,340.00. Following the sale, the executive vice president now owns 26,048 shares in the company, valued at approximately $999,201.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

A number of large investors have recently bought and sold shares of ALK. Covestor Ltd grew its holdings in Alaska Air Group by 416.4% during the 1st quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock valued at $33,000 after buying an additional 458 shares during the last quarter. CENTRAL TRUST Co grew its holdings in Alaska Air Group by 19.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,141 shares of the transportation company’s stock valued at $84,000 after buying an additional 350 shares during the last quarter. McIlrath & Eck LLC grew its holdings in Alaska Air Group by 12.2% during the 4th quarter. McIlrath & Eck LLC now owns 2,149 shares of the transportation company’s stock valued at $92,000 after buying an additional 234 shares during the last quarter. Advisory Services Network LLC grew its holdings in Alaska Air Group by 54.1% during the 4th quarter. Advisory Services Network LLC now owns 2,452 shares of the transportation company’s stock valued at $96,000 after buying an additional 861 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Alaska Air Group by 19.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock valued at $105,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ALK. Susquehanna upped their price objective on Alaska Air Group from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday. UBS Group initiated coverage on Alaska Air Group in a research report on Wednesday, March 20th. They set a “buy” rating and a $54.00 price objective for the company. Bank of America boosted their target price on Alaska Air Group from $50.00 to $56.00 and gave the company a “buy” rating in a report on Friday. StockNews.com raised Alaska Air Group from a “sell” rating to a “hold” rating in a report on Friday. Finally, TD Cowen boosted their target price on Alaska Air Group from $49.00 to $58.00 and gave the company a “buy” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.85.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.