BidaskClub downgraded shares of Alaska Air Group, Inc. (NYSE:ALK) from a hold rating to a sell rating in a research report sent to investors on Thursday, July 27th.
A number of other equities research analysts have also recently commented on ALK. Morgan Stanley lowered their price target on shares of Alaska Air Group from $103.00 to $102.00 and set an overweight rating on the stock in a report on Monday, July 17th. Zacks Investment Research raised shares of Alaska Air Group from a hold rating to a buy rating and set a $101.00 target price on the stock in a report on Tuesday, July 4th. Bank of America Corporation boosted their price target on shares of Alaska Air Group from $115.00 to $120.00 and gave the company a buy rating in a research report on Friday, June 30th. Cowen and Company restated an outperform rating and set a $103.00 price target on shares of Alaska Air Group in a research report on Tuesday, June 20th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $145.00 price objective on shares of Alaska Air Group in a research note on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Alaska Air Group currently has an average rating of Buy and a consensus target price of $105.41.
Shares of Alaska Air Group (NYSE ALK) traded up 0.25% during midday trading on Thursday, reaching $84.12. The company’s stock had a trading volume of 720,675 shares. The stock has a 50 day moving average price of $88.43 and a 200-day moving average price of $90.36. Alaska Air Group has a 52-week low of $64.19 and a 52-week high of $101.43. The company has a market capitalization of $10.39 billion, a price-to-earnings ratio of 13.68 and a beta of 0.95.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.52 by $0.01. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the firm earned $2.12 EPS. Alaska Air Group’s quarterly revenue was up 40.7% on a year-over-year basis. Equities research analysts expect that Alaska Air Group will post $7.87 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.43%. Alaska Air Group’s dividend payout ratio (DPR) is presently 19.48%.
In related news, SVP Joseph A. Sprague sold 7,000 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $90.85, for a total transaction of $635,950.00. Following the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $653,302.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bradley D. Tilden sold 6,500 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $88.72, for a total transaction of $576,680.00. Following the sale, the chairman now directly owns 148,446 shares in the company, valued at $13,170,129.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,850 shares of company stock valued at $2,149,881. 0.57% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp purchased a new stake in Alaska Air Group during the first quarter valued at about $64,763,000. BlackRock Inc. raised its position in shares of Alaska Air Group by 4,899.5% in the first quarter. BlackRock Inc. now owns 6,979,699 shares of the transportation company’s stock valued at $643,668,000 after buying an additional 6,840,090 shares during the period. Egerton Capital UK LLP acquired a new position in Alaska Air Group during the second quarter valued at approximately $265,002,000. Principal Financial Group Inc. raised its position in Alaska Air Group by 149.3% in the second quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock valued at $110,457,000 after buying an additional 737,020 shares during the last quarter. Finally, AGF Investments Inc. acquired a new position in Alaska Air Group during the first quarter valued at approximately $67,733,000. Hedge funds and other institutional investors own 94.35% of the company’s stock.
About Alaska Air Group
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.
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