Alaska Air Group (ALK) Cut to Hold at ValuEngine

Alaska Air Group (NYSE:ALK) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, April 2nd.

Other analysts also recently issued research reports about the stock. Morgan Stanley decreased their price objective on shares of Alaska Air Group from $86.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Zacks Investment Research downgraded shares of Alaska Air Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th. Barclays downgraded shares of Alaska Air Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $90.00 to $80.00 in a report on Wednesday, January 10th. Standpoint Research started coverage on shares of Alaska Air Group in a research note on Monday, December 18th. They issued a “buy” rating and a $90.00 target price for the company. Finally, Cowen reiterated an “outperform” rating and issued a $84.00 target price (down previously from $93.00) on shares of Alaska Air Group in a research note on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Alaska Air Group currently has an average rating of “Hold” and a consensus target price of $83.86.

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Shares of ALK stock traded down $0.22 on Monday, hitting $64.99. The stock had a trading volume of 1,579,206 shares, compared to its average volume of 2,569,873. The company has a market cap of $7,865.63, a P/E ratio of 9.79, a P/E/G ratio of 1.49 and a beta of 0.75. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.77. Alaska Air Group has a 12-month low of $57.60 and a 12-month high of $95.75.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, January 25th. The transportation company reported $0.83 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. Alaska Air Group had a net margin of 12.96% and a return on equity of 24.39%. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.56 earnings per share. research analysts expect that Alaska Air Group will post 5.52 earnings per share for the current fiscal year.

In other Alaska Air Group news, VP Brandon Pedersen sold 2,700 shares of Alaska Air Group stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $65.14, for a total transaction of $175,878.00. Following the completion of the sale, the vice president now directly owns 26,888 shares in the company, valued at $1,751,484.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gary L. Beck sold 6,360 shares of Alaska Air Group stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $65.10, for a total transaction of $414,036.00. Following the sale, the chief executive officer now owns 3,316 shares of the company’s stock, valued at $215,871.60. The disclosure for this sale can be found here. Insiders sold 13,373 shares of company stock valued at $884,697 over the last 90 days. 0.56% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in ALK. OppenheimerFunds Inc. lifted its position in Alaska Air Group by 12,449.2% during the fourth quarter. OppenheimerFunds Inc. now owns 1,560,244 shares of the transportation company’s stock valued at $114,693,000 after purchasing an additional 1,547,811 shares during the last quarter. Element Capital Management LLC bought a new stake in shares of Alaska Air Group in the 4th quarter worth approximately $46,474,000. BlackRock Inc. lifted its holdings in shares of Alaska Air Group by 9.3% in the 4th quarter. BlackRock Inc. now owns 7,310,003 shares of the transportation company’s stock worth $537,358,000 after acquiring an additional 621,021 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Alaska Air Group by 540.5% in the 4th quarter. Two Sigma Advisers LP now owns 685,616 shares of the transportation company’s stock worth $50,400,000 after acquiring an additional 578,574 shares during the last quarter. Finally, Darrell & King LLC bought a new stake in shares of Alaska Air Group in the 4th quarter worth approximately $35,143,000. Institutional investors and hedge funds own 86.33% of the company’s stock.

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About Alaska Air Group

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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