Cowen and Company reaffirmed their market perform rating on shares of Alaska Air Group, Inc. (NYSE:ALK) in a research note published on Monday, April 17th. Cowen and Company currently has a $102.00 price objective on the transportation company’s stock.
Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. set a $116.00 price target on shares of Alaska Air Group and gave the stock a buy rating in a research note on Saturday, April 1st. Stifel Nicolaus reissued a hold rating and set a $105.00 price target on shares of Alaska Air Group in a research note on Thursday, February 9th. Vetr raised shares of Alaska Air Group from a sell rating to a hold rating and set a $90.70 price target for the company in a research note on Monday, January 16th. Zacks Investment Research downgraded shares of Alaska Air Group from a buy rating to a hold rating in a research note on Tuesday, March 7th. Finally, Imperial Capital reaffirmed an in-line rating on shares of Alaska Air Group in a research note on Monday, March 20th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $103.62.
Shares of Alaska Air Group (NYSE:ALK) traded down 0.16% on Monday, hitting $84.73. 1,602,150 shares of the stock were exchanged. Alaska Air Group has a one year low of $54.51 and a one year high of $101.43. The company has a market cap of $10.47 billion, a P/E ratio of 14.43 and a beta of 0.80. The firm’s 50-day moving average is $88.15 and its 200-day moving average is $88.89.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Wednesday, April 26th. The transportation company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.01. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. Alaska Air Group had a net margin of 13.72% and a return on equity of 33.50%. Alaska Air Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 earnings per share. On average, equities analysts forecast that Alaska Air Group will post $7.83 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Tuesday, May 23rd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.42%. Alaska Air Group’s payout ratio is 16.79%.
In other news, VP Christopher Michael Berry sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $96.62, for a total value of $48,310.00. Following the sale, the vice president now directly owns 2,425 shares in the company, valued at approximately $234,303.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Bradley D. Tilden sold 5,600 shares of the firm’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $90.75, for a total transaction of $508,200.00. Following the completion of the sale, the chairman now owns 151,546 shares in the company, valued at $13,752,799.50. The disclosure for this sale can be found here. Insiders have sold 44,029 shares of company stock worth $4,234,374 over the last quarter. Corporate insiders own 0.68% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Mackenzie Financial Corp acquired a new stake in Alaska Air Group during the first quarter valued at approximately $64,763,000. BlackRock Inc. increased its stake in Alaska Air Group by 4,899.5% in the first quarter. BlackRock Inc. now owns 6,979,699 shares of the transportation company’s stock valued at $643,668,000 after buying an additional 6,840,090 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Alaska Air Group by 15.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,267,436 shares of the transportation company’s stock valued at $742,073,000 after buying an additional 1,536,507 shares in the last quarter. AGF Investments Inc. acquired a new stake in Alaska Air Group during the first quarter valued at approximately $67,733,000. Finally, FMR LLC raised its position in Alaska Air Group by 48.3% in the first quarter. FMR LLC now owns 1,810,921 shares of the transportation company’s stock valued at $167,003,000 after buying an additional 589,937 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.
Alaska Air Group Company Profile
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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