Alaska Air Group (ALK) Downgraded by Barclays

Alaska Air Group (NYSE:ALK) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday, Marketbeat.com reports. They currently have a $80.00 price objective on the transportation company’s stock, down from their previous price objective of $90.00. Barclays’ target price would indicate a potential upside of 8.81% from the company’s current price.

ALK has been the subject of several other reports. UBS Group raised Alaska Air Group from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, November 15th. Raymond James Financial raised Alaska Air Group from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $85.00 to $80.00 in a research report on Wednesday, November 15th. Bank of America reduced their target price on Alaska Air Group from $100.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, October 13th. Zacks Investment Research cut Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Finally, JPMorgan Chase & Co. cut Alaska Air Group from an “overweight” rating to a “neutral” rating and set a $74.00 target price for the company. in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $88.89.

Alaska Air Group (NYSE ALK) traded down $1.29 on Wednesday, hitting $73.52. The stock had a trading volume of 2,945,425 shares, compared to its average volume of 1,730,000. Alaska Air Group has a 12 month low of $61.10 and a 12 month high of $101.43. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $9,050.00, a PE ratio of 11.78 and a beta of 1.03.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, October 25th. The transportation company reported $2.24 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.02). Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company posted $2.20 earnings per share. The firm’s revenue was up 35.4% compared to the same quarter last year. equities research analysts anticipate that Alaska Air Group will post 6.65 EPS for the current fiscal year.

In other Alaska Air Group news, CEO David L. Campbell sold 4,934 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $68.00, for a total transaction of $335,512.00. Following the completion of the transaction, the chief executive officer now directly owns 9,648 shares in the company, valued at $656,064. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew R. Harrison sold 540 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $65.53, for a total value of $35,386.20. Following the transaction, the executive vice president now owns 20,788 shares of the company’s stock, valued at $1,362,237.64. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ALK. Egerton Capital UK LLP raised its stake in Alaska Air Group by 51.6% during the third quarter. Egerton Capital UK LLP now owns 4,476,494 shares of the transportation company’s stock worth $341,422,000 after acquiring an additional 1,524,149 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Alaska Air Group during the second quarter worth $57,891,000. Ardevora Asset Management LLP acquired a new position in Alaska Air Group during the third quarter worth $33,124,000. Lateef Investment Management L.P. acquired a new position in Alaska Air Group during the third quarter worth $24,256,000. Finally, Victory Capital Management Inc. raised its stake in Alaska Air Group by 67.2% during the third quarter. Victory Capital Management Inc. now owns 783,102 shares of the transportation company’s stock worth $59,728,000 after acquiring an additional 314,673 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

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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.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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