Alaska Air Group (NYSE:ALK) Upgraded at StockNews.com

StockNews.com upgraded shares of Alaska Air Group (NYSE:ALKFree Report) from a sell rating to a hold rating in a research report released on Friday morning.

Several other research firms also recently weighed in on ALK. UBS Group initiated coverage on shares of Alaska Air Group in a research report on Wednesday, March 20th. They set a buy rating and a $54.00 price target for the company. Bank of America increased their price objective on shares of Alaska Air Group from $50.00 to $56.00 and gave the company a buy rating in a report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Alaska Air Group from a hold rating to a buy rating and increased their price objective for the company from $44.00 to $51.00 in a report on Tuesday, February 20th. Evercore ISI increased their price objective on shares of Alaska Air Group from $55.00 to $65.00 and gave the company an outperform rating in a report on Thursday, April 4th. Finally, Melius downgraded shares of Alaska Air Group from a buy rating to a hold rating in a report on Monday, January 8th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $57.85.

Read Our Latest Stock Analysis on ALK

Alaska Air Group Price Performance

NYSE:ALK opened at $45.01 on Friday. Alaska Air Group has a one year low of $30.75 and a one year high of $57.18. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.58 and a current ratio of 0.65. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 0.90 and a beta of 1.63. The firm’s fifty day moving average is $39.68 and its two-hundred day moving average is $37.24.

Alaska Air Group (NYSE:ALKGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.17. The business 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 company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.62) earnings per share. Research analysts expect that Alaska Air Group will post 4.41 EPS for the current year.

Insider Activity

In other news, EVP Andrew R. Harrison sold 6,500 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were 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 of the company’s stock, valued at approximately $999,201.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Alaska Air Group

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its position in shares of Alaska Air Group by 1,676.8% during the 4th quarter. International Assets Investment Management LLC now owns 149,089 shares of the transportation company’s stock worth $58,250,000 after purchasing an additional 140,698 shares during the period. Wellington Management Group LLP boosted its position in Alaska Air Group by 16.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,554,257 shares of the transportation company’s stock valued at $94,712,000 after buying an additional 358,749 shares during the period. Louisiana State Employees Retirement System purchased a new position in Alaska Air Group in the 4th quarter valued at approximately $2,813,000. Bank of New York Mellon Corp boosted its position in Alaska Air Group by 6.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,213,630 shares of the transportation company’s stock valued at $45,001,000 after buying an additional 71,726 shares during the period. Finally, Deutsche Bank AG boosted its position in Alaska Air Group by 63.4% in the 3rd quarter. Deutsche Bank AG now owns 366,619 shares of the transportation company’s stock valued at $13,594,000 after buying an additional 142,310 shares during the period. Hedge funds and other institutional investors own 81.90% of the company’s stock.

About Alaska Air Group

(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.

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Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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