Alaska Air Group (NYSE:ALK) Shares Up 4.4%

Alaska Air Group, Inc. (NYSE:ALK)’s stock price shot up 4.4% during trading on Wednesday . The company traded as high as $42.90 and last traded at $42.60. 3,063,507 shares changed hands during trading, an increase of 26% from the average session volume of 2,438,353 shares. The stock had previously closed at $40.80.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALK. Melius cut shares of Alaska Air Group from a “buy” rating to a “hold” rating in a report on Monday, January 8th. TD Cowen increased their price target on shares of Alaska Air Group from $49.00 to $58.00 and gave the company a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and increased their price target for the company from $44.00 to $51.00 in a report on Tuesday, February 20th. UBS Group assumed coverage on shares of Alaska Air Group in a report on Wednesday, March 20th. They set a “buy” rating and a $54.00 price target on the stock. Finally, Bank of America raised their target price on shares of Alaska Air Group from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Alaska Air Group has a consensus rating of “Moderate Buy” and a consensus target price of $57.85.

Alaska Air Group Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 0.61 and a quick ratio of 0.58. The firm has a market capitalization of $5.66 billion, a P/E ratio of 24.87, a P/E/G ratio of 0.86 and a beta of 1.63. The company’s 50-day simple moving average is $39.52 and its two-hundred day simple moving average is $37.17.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.09) by $0.17. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.18 billion. Alaska Air Group had a net margin of 2.25% and a return on equity of 14.72%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned ($0.62) EPS. As a group, research analysts expect that Alaska Air Group, Inc. will post 4.41 earnings per share for the current year.

Insider Activity

In related news, EVP Andrew R. Harrison sold 6,500 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the transaction, the executive vice president now directly owns 26,048 shares of the company’s stock, valued at $999,201.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Alaska Air Group

Several institutional investors have recently bought and sold shares of the stock. McIlrath & Eck LLC grew its stake in Alaska Air Group by 12.2% during the fourth quarter. McIlrath & Eck LLC now owns 2,149 shares of the transportation company’s stock valued at $92,000 after acquiring an additional 234 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Alaska Air Group by 19.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock worth $105,000 after buying an additional 300 shares in the last quarter. CVA Family Office LLC grew its stake in shares of Alaska Air Group by 17.1% in the 1st quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock worth $96,000 after buying an additional 325 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Alaska Air Group by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,663 shares of the transportation company’s stock worth $284,000 after buying an additional 327 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Alaska Air Group by 5.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,906 shares of the transportation company’s stock worth $270,000 after buying an additional 333 shares in the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

Alaska Air Group Company Profile

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.