Alaska Air Group (ALK) Rating Lowered to Hold at ValuEngine

Alaska Air Group (NYSE:ALK) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other brokerages have also weighed in on ALK. TheStreet upgraded shares of Alaska Air Group from a “c+” rating to a “b-” rating in a report on Monday, November 26th. Imperial Capital upgraded shares of Alaska Air Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $62.00 to $95.00 in a report on Thursday, September 27th. Buckingham Research boosted their price objective on shares of Alaska Air Group from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, November 30th. Morgan Stanley set a $72.00 price objective on shares of Alaska Air Group and gave the stock a “buy” rating in a report on Friday, October 5th. Finally, Bank of America restated a “neutral” rating and issued a $71.00 price objective (up from $63.00) on shares of Alaska Air Group in a report on Thursday, November 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $80.07.

Shares of ALK opened at $69.61 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.44. Alaska Air Group has a 52 week low of $57.53 and a 52 week high of $76.06. The company has a market capitalization of $8.63 billion, a PE ratio of 10.48, a P/E/G ratio of 2.32 and a beta of 0.61.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, October 25th. The transportation company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. Alaska Air Group had a net margin of 9.57% and a return on equity of 15.51%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. As a group, analysts forecast that Alaska Air Group will post 4.32 earnings per share for the current fiscal year.

In other Alaska Air Group news, Director J Kenneth Thompson sold 2,500 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $73.12, for a total transaction of $182,800.00. Following the completion of the sale, the director now directly owns 36,353 shares in the company, valued at approximately $2,658,131.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Andrew R. Harrison sold 930 shares of the business’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $62.55, for a total transaction of $58,171.50. Following the sale, the executive vice president now owns 21,562 shares of the company’s stock, valued at $1,348,703.10. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ALK. Centaurus Financial Inc. purchased a new stake in Alaska Air Group during the 2nd quarter valued at $118,000. Tower Research Capital LLC TRC purchased a new stake in Alaska Air Group during the 3rd quarter valued at $171,000. Rampart Investment Management Company LLC raised its stake in Alaska Air Group by 113.0% during the 3rd quarter. Rampart Investment Management Company LLC now owns 2,662 shares of the transportation company’s stock valued at $183,000 after buying an additional 1,412 shares during the last quarter. IFP Advisors Inc raised its stake in Alaska Air Group by 98.1% during the 3rd quarter. IFP Advisors Inc now owns 2,758 shares of the transportation company’s stock valued at $190,000 after buying an additional 1,366 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Alaska Air Group by 38.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,238 shares of the transportation company’s stock valued at $196,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 93.00% of the company’s stock.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.

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Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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