Research Analysts Issue Forecasts for Alaska Air Group, Inc.’s Q2 2023 Earnings (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK – Get Rating) – Stock analysts at Seaport Res Ptn upped their Q2 2023 earnings per share estimates for shares of Alaska Air Group in a research report issued to clients and investors on Tuesday, March 14th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will earn $2.50 per share for the quarter, up from their prior estimate of $2.45. The consensus estimate for Alaska Air Group’s current full-year earnings is $5.99 per share.

Alaska Air Group (NYSE:ALK – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The transportation company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Alaska Air Group had a return on equity of 14.75% and a net margin of 0.60%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. Alaska Air Group’s quarterly revenue was up 30.5% compared to the same quarter last year.

Several other analysts have also weighed in on ALK. Susquehanna increased their price target on Alaska Air Group from $55.00 to $59.00 and gave the company a “positive” rating in a report on Thursday, February 2nd. Citigroup increased their target price on Alaska Air Group from $57.50 to $58.50 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. The Goldman Sachs Group initiated coverage on Alaska Air Group in a research note on Friday, December 16th. They issued a “buy” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Alaska Air Group from $90.00 to $91.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th. Finally, Morgan Stanley increased their target price on Alaska Air Group from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, January 30th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.05.

Alaska Air Group Stock Performance

NYSE:ALK opened at $40.48 on Thursday. The stock’s fifty day moving average is $48.87 and its 200 day moving average is $45.64. Alaska Air Group has a fifty-two week low of $38.19 and a fifty-two week high of $61.55. The firm has a market capitalization of $5.16 billion, a PE ratio of 93.91, a PEG ratio of 0.38 and a beta of 1.54. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.65 and a current ratio of 0.68.

Institutional Investors Weigh In On Alaska Air Group

Several institutional investors have recently added to or reduced their stakes in ALK. Alliancebernstein L.P. boosted its holdings in Alaska Air Group by 144.4% in the third quarter. Alliancebernstein L.P. now owns 2,869,150 shares of the transportation company’s stock worth $112,327,000 after acquiring an additional 1,695,004 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Alaska Air Group by 174.8% during the fourth quarter. LSV Asset Management now owns 1,974,216 shares of the transportation company’s stock worth $84,773,000 after purchasing an additional 1,255,861 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of Alaska Air Group during the first quarter worth about $62,390,000. Dimensional Fund Advisors LP lifted its holdings in shares of Alaska Air Group by 41.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,871,802 shares of the transportation company’s stock worth $112,432,000 after purchasing an additional 839,832 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Alaska Air Group by 110.5% during the second quarter. AQR Capital Management LLC now owns 1,560,880 shares of the transportation company’s stock worth $60,453,000 after purchasing an additional 819,223 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Insider Activity

In related news, SVP Andrea L. Schneider sold 1,596 shares of the firm’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $50.81, for a total transaction of $81,092.76. Following the sale, the senior vice president now owns 15,747 shares of the company’s stock, valued at $800,105.07. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $48.58, for a total transaction of $170,030.00. Following the sale, the director now owns 29,907 shares of the company’s stock, valued at $1,452,882.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Andrea L. Schneider sold 1,596 shares of the firm’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $50.81, for a total value of $81,092.76. Following the completion of the sale, the senior vice president now directly owns 15,747 shares of the company’s stock, valued at approximately $800,105.07. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Alaska Air Group Company Profile

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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 scheduled air transportation on Alaska’s Boeing and Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Mexico, Costa Rica and Belize.