Alaska Air Group (NYSE:ALK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Alaska Air Group (NYSE:ALK) from a sell rating to a hold rating in a research note issued to investors on Friday.

A number of other equities analysts have also recently issued reports on the company. Melius cut Alaska Air Group from a buy rating to a hold rating in a report on Monday, January 8th. Evercore ISI increased their price target on Alaska Air Group from $55.00 to $65.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upgraded Alaska Air Group from a hold rating to a buy rating and increased their price target for the stock from $44.00 to $51.00 in a report on Tuesday, February 20th. UBS Group assumed coverage on Alaska Air Group in a report on Wednesday, March 20th. They set a buy rating and a $54.00 price target on the stock. Finally, TD Cowen increased their price target on Alaska Air Group from $49.00 to $58.00 and gave the stock a buy rating in a report on Friday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $57.85.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $45.02 on Friday. The business’s 50 day simple moving average is $39.68 and its 200 day simple moving average is $37.22. Alaska Air Group has a one year low of $30.75 and a one year high of $57.18. The stock has a market capitalization of $5.66 billion, a PE ratio of 24.87, a PEG ratio of 0.86 and a beta of 1.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.61 and a quick ratio of 0.58.

Alaska Air Group (NYSE:ALK) last announced its 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 return on equity of 14.72% and a net margin of 2.25%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the business posted ($0.62) earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. As a group, research analysts forecast that Alaska Air Group will post 4.41 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 that occurred on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the transaction, the executive vice president now directly owns 26,048 shares of the company’s stock, valued at $999,201.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Alaska Air Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its position in Alaska Air Group by 1,676.8% in the 4th quarter. International Assets Investment Management LLC now owns 149,089 shares of the transportation company’s stock valued at $58,250,000 after buying an additional 140,698 shares during the last quarter. Wellington Management Group LLP raised its position in Alaska Air Group by 16.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,554,257 shares of the transportation company’s stock valued at $94,712,000 after buying an additional 358,749 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Alaska Air Group in the 4th quarter valued at $2,813,000. Bank of New York Mellon Corp raised its position in Alaska Air Group by 6.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,213,630 shares of the transportation company’s stock valued at $45,001,000 after buying an additional 71,726 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Alaska Air Group by 63.4% in the 3rd quarter. Deutsche Bank AG now owns 366,619 shares of the transportation company’s stock valued at $13,594,000 after buying an additional 142,310 shares during the last quarter. 81.90% of the stock is owned by hedge funds and other 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.