Brokerages Set Alaska Air Group, Inc. (NYSE:ALK) PT at $59.62


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Shares of Alaska Air Group, Inc. (NYSE:ALK) have been given a consensus recommendation of “Buy” by the seventeen brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $62.77.

ALK has been the subject of several analyst reports. The Goldman Sachs Group increased their target price on shares of Alaska Air Group from $64.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, March 22nd. Wolfe Research raised shares of Alaska Air Group to a “neutral” rating in a report on Friday, March 5th. Morgan Stanley raised shares of Alaska Air Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $49.00 to $90.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Monday, March 1st. Finally, Zacks Investment Research lowered shares of Alaska Air Group from a “hold” rating to a “sell” rating and set a $75.00 price objective for the company. in a report on Monday, March 22nd.

Alaska Air Group stock traded down $1.35 during midday trading on Monday, hitting $71.01. The stock had a trading volume of 2,307 shares, compared to its average volume of 1,896,117. The firm’s fifty day moving average is $67.04 and its two-hundred day moving average is $52.02. The company has a market capitalization of $8.83 billion, a PE ratio of -12.85 and a beta of 1.81. Alaska Air Group has a 52-week low of $23.39 and a 52-week high of $74.25. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.77.

Alaska Air Group (NYSE:ALK) last released its earnings results on Monday, January 25th. The transportation company reported ($2.55) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.91) by $0.36. The company had revenue of $808.00 million during the quarter, compared to analyst estimates of $813.37 million. Alaska Air Group had a negative net margin of 13.96% and a negative return on equity of 19.39%. The firm’s quarterly revenue was down 63.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. As a group, equities research analysts predict that Alaska Air Group will post -10.43 earnings per share for the current fiscal year.

In other news, insider Benito Minicucci sold 14,402 shares of the stock in a transaction that occurred on Thursday, March 25th. The stock was sold at an average price of $66.82, for a total transaction of $962,341.64. Following the completion of the transaction, the insider now directly owns 102,791 shares in the company, valued at approximately $6,868,494.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Kenneth Thompson sold 2,500 shares of the firm’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $68.66, for a total value of $171,650.00. Following the completion of the sale, the director now owns 37,495 shares of the company’s stock, valued at $2,574,406.70. The disclosure for this sale can be found here. Insiders have sold a total of 52,425 shares of company stock valued at $3,448,908 over the last quarter. Corporate insiders own 0.47% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Inspire Advisors LLC bought a new stake in Alaska Air Group in the fourth quarter worth $26,000. Concord Wealth Partners bought a new stake in Alaska Air Group in the fourth quarter worth $29,000. AllSquare Wealth Management LLC bought a new stake in Alaska Air Group in the fourth quarter worth $38,000. Charter Oak Capital Management LLC bought a new stake in Alaska Air Group in the fourth quarter worth $39,000. Finally, CWM LLC lifted its position in Alaska Air Group by 174.0% in the fourth quarter. CWM LLC now owns 1,000 shares of the transportation company’s stock worth $52,000 after buying an additional 635 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.

Alaska Air Group Company Profile

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 Alaska’s Boeing or Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Canada, Mexico, and Costa Rica.

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Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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