Buckingham Research Lowers Alaska Air Group (ALK) Price Target to $83.00

Alaska Air Group (NYSE:ALK) had its price target trimmed by Buckingham Research from $84.00 to $83.00 in a report issued on Monday. The brokerage currently has a buy rating on the transportation company’s stock.

Several other equities analysts also recently commented on the stock. TheStreet raised shares of Alaska Air Group from a c+ rating to a b- rating in a research note on Wednesday, September 19th. ValuEngine raised shares of Alaska Air Group from a sell rating to a hold rating in a research note on Monday, July 30th. Macquarie downgraded shares of Alaska Air Group from an outperform rating to a neutral rating in a research note on Monday, July 30th. Bank of America dropped their price objective on shares of Alaska Air Group from $70.00 to $66.00 and set a neutral rating for the company in a research note on Friday, July 27th. Finally, Stifel Nicolaus dropped their price objective on shares of Alaska Air Group from $110.00 to $100.00 and set a buy rating for the company in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $77.42.

Shares of Alaska Air Group stock opened at $67.12 on Monday. Alaska Air Group has a 1-year low of $57.53 and a 1-year high of $82.68. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 0.56. The company has a market cap of $8.29 billion, a PE ratio of 10.16, a PEG ratio of 2.33 and a beta of 0.57.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, July 26th. The transportation company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Alaska Air Group had a net margin of 10.28% and a return on equity of 16.99%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.48 EPS. research analysts forecast that Alaska Air Group will post 4.17 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 6th. Investors of record on Tuesday, August 21st were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Monday, August 20th. Alaska Air Group’s payout ratio is 19.28%.

In other Alaska Air Group news, EVP Shane R. Tackett sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $66.81, for a total value of $200,430.00. Following the completion of the transaction, the executive vice president now directly owns 8,238 shares in the company, valued at approximately $550,380.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.56% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vident Investment Advisory LLC increased its position in Alaska Air Group by 23.0% in the 2nd quarter. Vident Investment Advisory LLC now owns 4,699 shares of the transportation company’s stock valued at $284,000 after acquiring an additional 879 shares during the period. BancorpSouth Bank increased its position in Alaska Air Group by 12.5% in the 2nd quarter. BancorpSouth Bank now owns 7,989 shares of the transportation company’s stock valued at $482,000 after acquiring an additional 885 shares during the period. Daiwa Securities Group Inc. increased its position in Alaska Air Group by 38.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,238 shares of the transportation company’s stock valued at $196,000 after acquiring an additional 900 shares during the period. Mitchell Capital Management Co. increased its position in Alaska Air Group by 14.5% in the 2nd quarter. Mitchell Capital Management Co. now owns 7,214 shares of the transportation company’s stock valued at $436,000 after acquiring an additional 916 shares during the period. Finally, Gibraltar Capital Management Inc. increased its position in Alaska Air Group by 1.2% in the 2nd quarter. Gibraltar Capital Management Inc. now owns 93,510 shares of the transportation company’s stock valued at $5,647,000 after acquiring an additional 1,079 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.

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Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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