Cypress Asset Management Inc. TX purchased a new position in Alaska Air Group, Inc. (NYSE:ALK) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,350 shares of the transportation company’s stock, valued at approximately $332,000.
A number of other large investors have also recently bought and sold shares of ALK. Mountain Capital Investment Advisors Inc bought a new position in Alaska Air Group in the second quarter worth about $122,000. Mercer Capital Advisers Inc. bought a new position in Alaska Air Group in the third quarter worth about $116,000. Bessemer Group Inc. lifted its holdings in Alaska Air Group by 57.9% in the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock worth $171,000 after acquiring an additional 695 shares during the last quarter. Smithfield Trust Co. lifted its holdings in Alaska Air Group by 8.6% in the second quarter. Smithfield Trust Co. now owns 2,391 shares of the transportation company’s stock worth $215,000 after acquiring an additional 189 shares during the last quarter. Finally, Insight Capital Research & Management Inc. bought a new position in Alaska Air Group in the second quarter worth about $215,000. Institutional investors and hedge funds own 88.37% of the company’s stock.
A number of equities analysts have issued reports on ALK shares. Bank of America Corporation cut their target price on shares of Alaska Air Group from $100.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, October 13th. BidaskClub cut Alaska Air Group from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alaska Air Group in a report on Monday, September 18th. Stifel Nicolaus cut their price target on Alaska Air Group from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Finally, Macquarie started coverage on Alaska Air Group in a report on Monday, September 25th. They set an “outperform” rating and a $94.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $91.27.
Shares of Alaska Air Group, Inc. (NYSE:ALK) traded down $0.45 during trading hours on Tuesday, reaching $65.65. The company had a trading volume of 582,416 shares, compared to its average volume of 1,470,804. Alaska Air Group, Inc. has a 1 year low of $61.10 and a 1 year high of $101.43. The company has a market capitalization of $8,120.00, a PE ratio of 9.02 and a beta of 1.01. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 0.80.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.02). Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm earned $2.20 EPS. Alaska Air Group’s revenue for the quarter was up 35.4% on a year-over-year basis. equities analysts predict that Alaska Air Group, Inc. will post 6.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Tuesday, November 21st will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, November 20th. This represents a $1.20 annualized dividend and a yield of 1.83%. Alaska Air Group’s payout ratio is 19.23%.
About Alaska Air Group
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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