Research Analysts’ Weekly Ratings Updates for Alaska Air Group (ALK)

A number of firms have modified their ratings and price targets on shares of Alaska Air Group (NYSE: ALK) recently:

• 4/19/2024 – Alaska Air Group had its price target raised by analysts at Susquehanna from $40.00 to $42.00. They now have a “neutral” rating on the stock.
• 4/19/2024 – Alaska Air Group was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 4/19/2024 – Alaska Air Group had its price target raised by analysts at TD Cowen from $49.00 to $58.00. They now have a “buy” rating on the stock.
• 4/19/2024 – Alaska Air Group had its price target raised by analysts at Bank of America Co. from $50.00 to $56.00. They now have a “buy” rating on the stock.
• 4/9/2024 – Alaska Air Group was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 4/5/2024 – Alaska Air Group had its price target raised by analysts at TD Cowen from $41.00 to $49.00. They now have a “buy” rating on the stock.
• 4/4/2024 – Alaska Air Group had its price target raised by analysts at Evercore ISI from $55.00 to $65.00. They now have an “outperform” rating on the stock.
• 3/20/2024 – Alaska Air Group is now covered by analysts at UBS Group AG. They set a “buy” rating and a $54.00 price target on the stock.

Alaska Air Group Price Performance

NYSE ALK opened at $43.86 on Friday. The company has a market cap of $5.57 billion, a PE ratio of 23.45, a P/E/G ratio of 0.57 and a beta of 1.60. Alaska Air Group, Inc. 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 0.85, a quick ratio of 0.63 and a current ratio of 0.65. The firm’s 50 day moving average price is $41.28 and its 200-day moving average price is $38.15.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, April 18th. The transportation company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.09) by $0.17. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the firm posted ($0.62) earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Sell-side analysts forecast that Alaska Air Group, Inc. will post 4.68 EPS for the current fiscal year.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the sale, the executive vice president now directly owns 26,048 shares of the company’s stock, valued at $999,201.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners lifted its holdings in Alaska Air Group by 64.6% in the 4th quarter. Boston Partners now owns 3,811,191 shares of the transportation company’s stock valued at $148,861,000 after purchasing an additional 1,495,311 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Alaska Air Group by 13.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,439,909 shares of the transportation company’s stock worth $212,543,000 after purchasing an additional 660,455 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Alaska Air Group by 238.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 869,045 shares of the transportation company’s stock worth $33,954,000 after purchasing an additional 612,575 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Alaska Air Group by 4,198.3% in the fourth quarter. Franklin Resources Inc. now owns 571,589 shares of the transportation company’s stock valued at $22,332,000 after purchasing an additional 558,291 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Alaska Air Group by 18.5% in the third quarter. Invesco Ltd. now owns 3,447,347 shares of the transportation company’s stock valued at $127,828,000 after purchasing an additional 537,147 shares during the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

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.