J P Morgan Chase & Co Downgrades Alaska Air Group, Inc. (NYSE:ALK) to Neutral

Alaska Air Group, Inc. (NYSE:ALK) was downgraded by equities research analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a report released on Wednesday, November 1st, MarketBeat Ratings reports. They currently have a $74.00 price objective on the transportation company’s stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 11.95% from the company’s previous close.

Several other research analysts have also recently commented on ALK. Barclays PLC reiterated a “buy” rating on shares of Alaska Air Group in a report on Thursday, September 14th. BidaskClub cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Morgan Stanley lowered their target price on shares of Alaska Air Group from $101.00 to $96.00 and set an “overweight” rating for the company in a report on Thursday, August 17th. Cowen and Company lowered their target price on shares of Alaska Air Group from $100.00 to $89.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Finally, Zacks Investment Research cut shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. Alaska Air Group presently has an average rating of “Buy” and a consensus target price of $91.27.

Shares of Alaska Air Group (ALK) remained flat at $$66.10 on Wednesday. The company had a trading volume of 1,897,132 shares, compared to its average volume of 1,470,804. Alaska Air Group has a 1-year low of $61.10 and a 1-year high of $101.43. The stock has a market capitalization of $8,120.00, a PE ratio of 9.02 and a beta of 1.01. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 0.80.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, October 25th. The transportation company reported $2.24 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.02). Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the company earned $2.20 earnings per share. Alaska Air Group’s quarterly revenue was up 35.4% on a year-over-year basis. analysts anticipate that Alaska Air Group will post 6.78 EPS for the current year.

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Several institutional investors have recently added to or reduced their stakes in ALK. Egerton Capital UK LLP acquired a new stake in shares of Alaska Air Group during the 2nd quarter worth about $265,002,000. Principal Financial Group Inc. boosted its stake in shares of Alaska Air Group by 149.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock worth $110,457,000 after purchasing an additional 737,020 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Alaska Air Group during the 2nd quarter worth about $57,891,000. State of New Jersey Common Pension Fund D boosted its position in shares of Alaska Air Group by 900.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 500,000 shares of the transportation company’s stock worth $44,880,000 after acquiring an additional 450,000 shares during the last quarter. Finally, Ardevora Asset Management LLP acquired a new stake in shares of Alaska Air Group in the third quarter worth approximately $33,124,000. 88.37% of the stock is currently owned by institutional investors.

Alaska Air Group Company Profile

Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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