Alaska Air Group’s (ALK) In-Line Rating Reaffirmed at Imperial Capital

Imperial Capital restated their in-line rating on shares of Alaska Air Group (NYSE:ALK) in a report released on Wednesday, Briefing.com Automated Import reports. Imperial Capital currently has a $68.00 price target on the transportation company’s stock, up from their prior price target of $61.00. Imperial Capital also issued estimates for Alaska Air Group’s Q2 2019 earnings at $1.96 EPS, Q3 2019 earnings at $2.38 EPS, FY2019 earnings at $5.75 EPS, Q1 2020 earnings at $0.44 EPS, Q2 2020 earnings at $2.41 EPS, Q3 2020 earnings at $2.65 EPS, Q4 2020 earnings at $1.30 EPS and FY2020 earnings at $6.80 EPS.

ALK has been the subject of several other reports. Zacks Investment Research raised shares of Alaska Air Group from a strong sell rating to a hold rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. raised shares of Alaska Air Group from a neutral rating to an overweight rating and raised their price objective for the stock from $71.00 to $72.00 in a report on Tuesday, April 30th. ValuEngine lowered shares of Alaska Air Group from a hold rating to a sell rating in a report on Tuesday, March 5th. Deutsche Bank decreased their price objective on shares of Alaska Air Group from $73.00 to $68.00 and set a buy rating for the company in a report on Friday, April 26th. Finally, Credit Suisse Group set a $76.00 price objective on shares of Alaska Air Group and gave the stock a buy rating in a report on Friday, April 12th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Alaska Air Group has an average rating of Buy and an average target price of $74.97.

Shares of ALK stock opened at $62.08 on Wednesday. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 0.60 and a beta of 0.84. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.44. Alaska Air Group has a 1-year low of $53.39 and a 1-year high of $74.83.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, April 25th. The transportation company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Alaska Air Group had a net margin of 5.26% and a return on equity of 14.97%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. Equities analysts forecast that Alaska Air Group will post 5.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Monday, May 20th. Alaska Air Group’s dividend payout ratio (DPR) is presently 31.39%.

In related news, EVP Andrew R. Harrison sold 4,700 shares of Alaska Air Group stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $62.63, for a total value of $294,361.00. Following the sale, the executive vice president now directly owns 15,867 shares in the company, valued at approximately $993,750.21. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Andrew R. Harrison sold 1,600 shares of Alaska Air Group stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $61.53, for a total transaction of $98,448.00. Following the completion of the sale, the executive vice president now owns 20,567 shares in the company, valued at $1,265,487.51. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Mason Street Advisors LLC lifted its position in Alaska Air Group by 1.0% in the 1st quarter. Mason Street Advisors LLC now owns 17,564 shares of the transportation company’s stock valued at $986,000 after purchasing an additional 181 shares during the last quarter. Stephens Inc. AR lifted its position in Alaska Air Group by 2.0% in the 1st quarter. Stephens Inc. AR now owns 9,786 shares of the transportation company’s stock valued at $549,000 after purchasing an additional 192 shares during the last quarter. State Treasurer State of Michigan lifted its position in Alaska Air Group by 0.6% in the 1st quarter. State Treasurer State of Michigan now owns 35,496 shares of the transportation company’s stock valued at $1,992,000 after purchasing an additional 200 shares during the last quarter. Dupont Capital Management Corp lifted its position in Alaska Air Group by 14.9% in the 4th quarter. Dupont Capital Management Corp now owns 1,667 shares of the transportation company’s stock valued at $101,000 after purchasing an additional 216 shares during the last quarter. Finally, Sandy Spring Bank lifted its position in Alaska Air Group by 58.8% in the 1st quarter. Sandy Spring Bank now owns 794 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 294 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 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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