Alaska Air Group (ALK) – Analysts’ Recent Ratings Updates

A number of firms have modified their ratings and price targets on shares of Alaska Air Group (NYSE: ALK) recently:

  • 1/15/2019 – Alaska Air Group had its “outperform” rating reaffirmed by analysts at Imperial Capital. They now have a $90.00 price target on the stock.
  • 1/10/2019 – Alaska Air Group was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating. They now have a $67.00 price target on the stock.
  • 1/9/2019 – Alaska Air Group had its price target lowered by analysts at Imperial Capital from $102.00 to $90.00. They now have an “outperform” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 12/31/2018 – Alaska Air Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $64.00 price target on the stock. According to Zacks, “Shares of Alaska Air Group have outperformed its industry over the past six months. The company issued a bullish fourth-quarter unit revenue forecast while releasing its November traffic results. In fact, the company is benefiting from the rise in passenger revenues, which increased 4% in the third quarter as well as in the first nine months of 2018. The company's efforts to expand its presence are encouraging as well. We are also impressed by the company’s efforts to reward shareholders through dividends and buybacks. The Zacks Consensus Estimate for current-year earnings has been revised upward to the tune of 4.1% over the last 60 days. Moreover, the same for 2019 earnings has increased 10.5% in the same timeframe. The bullish readings support the positivity surrounding the stock. However, high operating expenses are limiting bottom-line growth. Capacity-related woes are also worrisome.”
  • 12/17/2018 – Alaska Air Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Alaska Air Group have outperformed its industry over the past six months. The company issued a bullish fourth-quarter unit revenue forecast while releasing its November traffic results. In fact, the company is benefiting from the rise in passenger revenues, which increased 4% in the third quarter as well as in the first nine months of 2018. The company's efforts to expand its presence are encouraging as well. We are also impressed by the company’s efforts to reward shareholders through dividends and buybacks. However, high operating expenses are limiting bottom-line growth. In fact, the bottom line contracted in each of the three quarters so far this year mainly due to high costs. Capacity-related woes are also worrisome. Load factor has declined 70 basis points year to date due to capacity expansion outweighing traffic growth.”
  • 12/11/2018 – Alaska Air Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $71.00 price target on the stock. According to Zacks, “Shares of Alaska Air Group have outperformed its industry over the past six months. The company issued a bullish fourth-quarter unit revenue forecast on its investor day. In fact, the company is benefiting from the rise in passenger revenues, which increased 4% in the third quarter as well as in the first nine months of 2018. Additionally, the carrier has reduced its forecast for fuel cost per gallon. The company's efforts to expand its presence are encouraging as well. We are also impressed by the company’s efforts to reward shareholders through dividends and buybacks. The positivity surrounding the stock is evident from the Zacks Consensus Estimate for current-year earnings being revised 3.3% upward in the last 60 days. However, high operating expenses are limiting bottom-line growth. In fact, the bottom line contracted in each of the three quarters so far this year mainly due to high costs. Capacity-related woes are also worrisome.”
  • 12/5/2018 – Alaska Air Group was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 11/30/2018 – Alaska Air Group had its price target raised by analysts at Buckingham Research from $74.00 to $88.00. They now have a “buy” rating on the stock.
  • 11/29/2018 – Alaska Air Group had its price target raised by analysts at Imperial Capital from $90.00 to $102.00. They now have an “outperform” rating on the stock.
  • 11/29/2018 – Alaska Air Group had its “neutral” rating reaffirmed by analysts at Bank of America Corp. They now have a $71.00 price target on the stock, up previously from $63.00.
  • 11/28/2018 – Alaska Air Group had its “outperform” rating reaffirmed by analysts at Cowen Inc. They now have a $84.00 price target on the stock, up previously from $80.00.
  • 11/28/2018 – Alaska Air Group was upgraded by analysts at Goldman Sachs Group Inc from a “buy” rating to a “conviction-buy” rating.
  • 11/26/2018 – Alaska Air Group was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 11/21/2018 – Alaska Air Group was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 11/19/2018 – Alaska Air Group is now covered by analysts at Credit Suisse Group AG. They set an “outperform” rating and a $81.00 price target on the stock.

ALK traded down $0.49 during midday trading on Thursday, hitting $64.41. 107,263 shares of the company traded hands, compared to its average volume of 1,418,265. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.69 and a current ratio of 0.71. The stock has a market capitalization of $7.93 billion, a P/E ratio of 9.70, a P/E/G ratio of 6.09 and a beta of 0.84. Alaska Air Group, Inc. has a 52 week low of $57.28 and a 52 week high of $74.83.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, October 25th. The transportation company reported $1.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.10. Alaska Air Group had a net margin of 9.57% and a return on equity of 15.51%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. Research analysts forecast that Alaska Air Group, Inc. will post 4.43 EPS for the current fiscal year.

In other news, Director J Kenneth Thompson sold 2,500 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $73.12, for a total transaction of $182,800.00. Following the completion of the sale, the director now owns 36,353 shares of the company’s stock, valued at approximately $2,658,131.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 930 shares of the company’s stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $62.55, for a total transaction of $58,171.50. Following the sale, the executive vice president now directly owns 21,562 shares of the company’s stock, valued at approximately $1,348,703.10. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALK. North Star Investment Management Corp. purchased a new stake in Alaska Air Group in the 4th quarter worth approximately $49,000. Legacy Financial Advisors Inc. grew its holdings in Alaska Air Group by 134.4% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,261 shares of the transportation company’s stock valued at $77,000 after buying an additional 723 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in Alaska Air Group during the 2nd quarter valued at approximately $118,000. First Hawaiian Bank grew its holdings in Alaska Air Group by 2,553.0% during the 4th quarter. First Hawaiian Bank now owns 2,202 shares of the transportation company’s stock valued at $134,000 after buying an additional 2,119 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in Alaska Air Group during the 3rd quarter valued at approximately $171,000. 93.13% of the stock is owned by hedge funds and other institutional investors.

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.

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