ValuEngine Downgrades Alaska Air Group (NYSE:ALK) to Sell

Alaska Air Group (NYSE:ALK) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, ValuEngine reports.

A number of other equities analysts have also issued reports on ALK. Citigroup set a $66.00 price target on Alaska Air Group and gave the company a “hold” rating in a research note on Friday, July 26th. Morgan Stanley increased their price target on Alaska Air Group from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday. Macquarie lowered Alaska Air Group from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $79.00 to $63.00 in a research note on Monday, July 29th. TheStreet raised Alaska Air Group from a “c” rating to a “b” rating in a research note on Thursday, July 25th. Finally, Imperial Capital reissued an “in-line” rating and set a $70.00 price objective (up from $68.00) on shares of Alaska Air Group in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $72.36.

Shares of NYSE ALK opened at $66.08 on Thursday. The stock has a fifty day moving average price of $63.00 and a two-hundred day moving average price of $61.81. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.61 and a current ratio of 0.63. The firm has a market cap of $7.90 billion, a P/E ratio of 12.82, a PEG ratio of 0.57 and a beta of 0.85. Alaska Air Group has a 1 year low of $53.39 and a 1 year high of $74.83.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, July 25th. The transportation company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Alaska Air Group had a return on equity of 16.28% and a net margin of 6.00%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $1.66 EPS. On average, research analysts predict that Alaska Air Group will post 5.98 earnings per share for the current fiscal year.

In other news, CFO Brandon Pedersen sold 4,024 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $67.01, for a total transaction of $269,648.24. Following the completion of the sale, the chief financial officer now directly owns 22,500 shares of the company’s stock, valued at approximately $1,507,725. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kyle B. Levine sold 2,430 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $157,950.00. Following the sale, the vice president now directly owns 8,039 shares of the company’s stock, valued at $522,535. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Securian Asset Management Inc boosted its position in shares of Alaska Air Group by 1.4% in the second quarter. Securian Asset Management Inc now owns 12,561 shares of the transportation company’s stock worth $803,000 after buying an additional 171 shares during the period. BancorpSouth Bank boosted its position in shares of Alaska Air Group by 2.5% in the second quarter. BancorpSouth Bank now owns 7,930 shares of the transportation company’s stock worth $507,000 after buying an additional 195 shares during the period. A.R.T. Advisors LLC boosted its position in shares of Alaska Air Group by 1.5% in the second quarter. A.R.T. Advisors LLC now owns 16,949 shares of the transportation company’s stock worth $1,083,000 after buying an additional 256 shares during the period. Retirement Systems of Alabama boosted its position in shares of Alaska Air Group by 0.5% in the second quarter. Retirement Systems of Alabama now owns 57,597 shares of the transportation company’s stock worth $3,681,000 after buying an additional 269 shares during the period. Finally, Alpha Windward LLC boosted its position in shares of Alaska Air Group by 3.9% in the second quarter. Alpha Windward LLC now owns 7,757 shares of the transportation company’s stock worth $496,000 after buying an additional 292 shares during the period. 88.38% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.

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Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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