Alaska Air Group (NYSE:ALK) Releases Q1 Earnings Guidance

Alaska Air Group (NYSE:ALK) updated its first quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $(1.15)-(1.05) for the period, compared to the consensus estimate of ($0.91).

Analyst Upgrades and Downgrades

Several research firms have recently commented on ALK. StockNews.com raised shares of Alaska Air Group from a sell rating to a hold rating in a report on Saturday, March 9th. Susquehanna downgraded shares of Alaska Air Group from a positive rating to a neutral rating and upped their price target for the company from $39.00 to $40.00 in a research note on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft raised shares of Alaska Air Group from a hold rating to a buy rating and upped their price target for the company from $44.00 to $51.00 in a research note on Tuesday, February 20th. TD Cowen upped their price target on shares of Alaska Air Group from $41.00 to $49.00 and gave the company a buy rating in a research note on Friday. Finally, UBS Group initiated coverage on shares of Alaska Air Group in a research note on Wednesday, March 20th. They issued a buy rating and a $54.00 target price on the stock. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $57.44.

Alaska Air Group Trading Up 1.7 %

NYSE ALK opened at $42.48 on Friday. The company’s 50-day moving average price is $38.42 and its 200-day moving average price is $36.86. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 0.53. The stock has a market cap of $5.34 billion, a PE ratio of 23.47, a PEG ratio of 0.81 and a beta of 1.63. Alaska Air Group has a 12 month low of $30.75 and a 12 month high of $57.18.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, January 25th. The transportation company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Alaska Air Group had a net margin of 2.25% and a return on equity of 14.72%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. Equities research analysts forecast that Alaska Air Group will post 4.62 earnings per share for the current year.

Insider Transactions at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 6,500 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total value of $249,340.00. Following the transaction, the executive vice president now directly owns 26,048 shares in the company, valued at $999,201.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALK. Clearbridge Investments LLC bought a new position in Alaska Air Group during the 1st quarter worth about $62,390,000. Wellington Management Group LLP purchased a new stake in shares of Alaska Air Group during the first quarter valued at about $30,293,000. Norges Bank purchased a new stake in shares of Alaska Air Group during the fourth quarter valued at about $30,980,000. BlackRock Inc. lifted its position in shares of Alaska Air Group by 9.1% during the second quarter. BlackRock Inc. now owns 7,951,500 shares of the transportation company’s stock valued at $422,861,000 after buying an additional 660,917 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Alaska Air Group by 316.5% in the 4th quarter. Point72 Asset Management L.P. now owns 739,350 shares of the transportation company’s stock valued at $28,886,000 after purchasing an additional 561,850 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors.

Alaska Air Group Company Profile

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.