Q1 2023 EPS Estimates for Alaska Air Group, Inc. Reduced by Seaport Res Ptn (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK – Get Rating) – Seaport Res Ptn cut their Q1 2023 earnings per share estimates for shares of Alaska Air Group in a report issued on Tuesday, March 14th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will post earnings of ($0.45) per share for the quarter, down from their previous forecast of ($0.40). The consensus estimate for Alaska Air Group’s current full-year earnings is $6.01 per share.

ALK has been the subject of several other reports. Wolfe Research downgraded Alaska Air Group from an “outperform” rating to a “peer perform” rating in a report on Friday, January 27th. Morgan Stanley raised their target price on shares of Alaska Air Group from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, January 30th. Citigroup raised their target price on shares of Alaska Air Group from $57.50 to $58.50 and gave the stock a “buy” rating in a report on Tuesday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Alaska Air Group from $90.00 to $91.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Finally, Barclays raised Alaska Air Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $62.00 in a report on Friday, March 10th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.05.

Alaska Air Group Trading Down 2.9 %

ALK stock opened at $39.29 on Friday. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 91.37, a PEG ratio of 0.35 and a beta of 1.54. The company has a quick ratio of 0.65, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The business has a fifty day simple moving average of $48.68 and a 200-day simple moving average of $45.57. Alaska Air Group has a 52 week low of $38.19 and a 52 week high of $61.55.

Alaska Air Group (NYSE:ALK – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The transportation company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Alaska Air Group had a return on equity of 14.75% and a net margin of 0.60%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. The company’s revenue was up 30.5% compared to the same quarter last year.

Hedge Funds Weigh In On Alaska Air Group

Large investors have recently modified their holdings of the stock. Alliancebernstein L.P. raised its position in Alaska Air Group by 144.4% in the 3rd quarter. Alliancebernstein L.P. now owns 2,869,150 shares of the transportation company’s stock valued at $112,327,000 after buying an additional 1,695,004 shares during the last quarter. LSV Asset Management grew its stake in Alaska Air Group by 174.8% during the fourth quarter. LSV Asset Management now owns 1,974,216 shares of the transportation company’s stock worth $84,773,000 after buying an additional 1,255,861 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of Alaska Air Group in the first quarter worth about $62,390,000. Dimensional Fund Advisors LP raised its holdings in Alaska Air Group by 41.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,871,802 shares of the transportation company’s stock valued at $112,432,000 after buying an additional 839,832 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Alaska Air Group by 110.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,560,880 shares of the transportation company’s stock valued at $60,453,000 after buying an additional 819,223 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director J Kenneth Thompson sold 3,500 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $48.58, for a total transaction of $170,030.00. Following the transaction, the director now owns 29,907 shares in the company, valued at approximately $1,452,882.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alaska Air Group news, SVP Andrea L. Schneider sold 1,596 shares of the business’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $50.81, for a total value of $81,092.76. Following the transaction, the senior vice president now directly owns 15,747 shares in the company, valued at $800,105.07. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director J Kenneth Thompson sold 3,500 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $48.58, for a total transaction of $170,030.00. Following the completion of the transaction, the director now owns 29,907 shares in the company, valued at $1,452,882.06. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Alaska Air Group Company Profile

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Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional, and Horizon. The Mainline segment includes scheduled air transportation on Alaska’s Boeing and Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Mexico, Costa Rica and Belize.