Alaska Air Group, Inc. (NYSE:ALK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Alaska Air Group, Inc. (NYSE:ALK) has received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $64.00.

ALK has been the subject of several recent research reports. UBS Group reissued a “buy” rating and set a $72.00 price target on shares of Alaska Air Group in a research report on Tuesday, November 26th. TD Cowen lifted their price objective on Alaska Air Group from $68.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley upped their target price on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday. Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Monday, October 28th. Finally, Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Monday, October 28th.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $62.57 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. The company’s 50-day moving average price is $50.51 and its 200 day moving average price is $43.01. Alaska Air Group has a 52 week low of $32.62 and a 52 week high of $65.62. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.24 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the prior year, the firm earned $1.83 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts forecast that Alaska Air Group will post 4.3 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Andrew R. Harrison sold 13,880 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $64.01, for a total value of $888,458.80. Following the transaction, the executive vice president now owns 20,638 shares in the company, valued at approximately $1,321,038.38. This trade represents a 40.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Andrea L. Schneider sold 3,700 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $63.50, for a total transaction of $234,950.00. Following the sale, the senior vice president now owns 21,086 shares of the company’s stock, valued at approximately $1,338,961. This represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,580 shares of company stock valued at $1,693,569 in the last ninety days. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new position in Alaska Air Group in the second quarter valued at about $28,000. Pacific Center for Financial Services acquired a new stake in shares of Alaska Air Group in the third quarter valued at about $45,000. Venturi Wealth Management LLC raised its holdings in shares of Alaska Air Group by 86.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after buying an additional 474 shares during the period. Pacifica Partners Inc. raised its holdings in shares of Alaska Air Group by 952.4% during the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after buying an additional 1,000 shares during the period. Finally, True Wealth Design LLC acquired a new position in Alaska Air Group during the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 81.90% of the company’s stock.

About Alaska Air Group

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.