Alaska Air Group (NYSE:ALK) Raised to Outperform at Wolfe Research

Wolfe Research upgraded shares of Alaska Air Group (NYSE:ALKFree Report) from a peer perform rating to an outperform rating in a research report released on Friday morning, Marketbeat reports. They currently have $55.00 price target on the transportation company’s stock.

ALK has been the subject of several other research reports. UBS Group initiated coverage on Alaska Air Group in a research report on Wednesday, March 20th. They issued a buy rating and a $54.00 price objective for the company. StockNews.com upgraded shares of Alaska Air Group from a sell rating to a hold rating in a research report on Friday, April 19th. TD Cowen raised their price objective on shares of Alaska Air Group from $49.00 to $58.00 and gave the company a buy rating in a research report on Friday, April 19th. Evercore ISI upped their target price on shares of Alaska Air Group from $55.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Finally, Susquehanna raised their price target on shares of Alaska Air Group from $40.00 to $42.00 and gave the company a neutral rating in a report on Friday, April 19th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $56.60.

Read Our Latest Report on ALK

Alaska Air Group Stock Up 1.4 %

Shares of NYSE ALK opened at $43.88 on Friday. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $57.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 0.65. The business has a fifty day moving average of $42.21 and a two-hundred day moving average of $38.82. The stock has a market cap of $5.57 billion, a PE ratio of 23.47, a PEG ratio of 0.58 and a beta of 1.60.

Alaska Air Group (NYSE:ALKGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.09) by $0.17. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.18 billion. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted ($0.62) EPS. As a group, equities research analysts expect that Alaska Air Group will post 4.68 earnings per share for the current fiscal year.

Insider Transactions at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 6,500 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total value of $249,340.00. Following the completion of the sale, the executive vice president now owns 26,048 shares in the company, valued at $999,201.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its holdings in Alaska Air Group by 215.8% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 761 shares of the transportation company’s stock worth $30,000 after purchasing an additional 520 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of Alaska Air Group by 255.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 775 shares of the transportation company’s stock valued at $30,000 after buying an additional 557 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in Alaska Air Group by 456.1% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 912 shares of the transportation company’s stock worth $34,000 after buying an additional 748 shares during the period. Principal Securities Inc. bought a new position in Alaska Air Group during the fourth quarter worth about $39,000. Finally, Allworth Financial LP grew its stake in Alaska Air Group by 63.4% in the third quarter. Allworth Financial LP now owns 1,297 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 503 shares during the period. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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