Trade Report: Today, Alaska Air Group Inc. (ALK) Rating Increased to Buy at Buckingham Research

Today, Alaska Air Group Inc. (ALK) Rating Increased to Buy at Buckingham Research

Alaska Air Group Inc. (NYSE:ALK) was upgraded by Buckingham Research from a “neutral” rating to a “buy” rating in a report released on Thursday. The firm presently has a $84.00 price target on the stock. Buckingham Research’s price target suggests a potential upside of 16.17% from the stock’s previous close.

Several other equities research analysts also recently weighed in on ALK. Morgan Stanley reaffirmed an “overweight” rating on shares of Alaska Air Group in a research note on Wednesday, June 15th. Cowen and Company reaffirmed a “buy” rating on shares of Alaska Air Group in a research note on Wednesday, June 15th. Zacks Investment Research downgraded shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. Credit Suisse Group AG raised shares of Alaska Air Group from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $70.00 to $85.00 in a research note on Monday, July 25th. Finally, JPMorgan Chase & Co. raised shares of Alaska Air Group from a “neutral” rating to an “overweight” rating and set a $78.50 target price for the company in a research report on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Alaska Air Group has an average rating of “Buy” and an average target price of $86.30.

Alaska Air Group (NYSE:ALK) opened at 72.31 on Thursday. The stock has a 50 day moving average price of $67.89 and a 200-day moving average price of $67.89. Alaska Air Group has a 1-year low of $54.51 and a 1-year high of $87.17. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of 10.01 and a beta of 0.89.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, July 21st. The company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.03. Alaska Air Group had a net margin of 15.86% and a return on equity of 36.88%. The firm earned $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm posted $1.76 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. Equities analysts predict that Alaska Air Group will post $7.05 earnings per share for the current year.

In related news, VP Mark G. Eliasen sold 4,560 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $68.19, for a total transaction of $310,946.40. Following the sale, the vice president now directly owns 5,302 shares in the company, valued at approximately $361,543.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brandon Pedersen sold 9,943 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $70.52, for a total transaction of $701,180.36. Following the sale, the vice president now owns 13,360 shares in the company, valued at $942,147.20. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the stock. Ifrah Financial Services Inc. boosted its stake in shares of Alaska Air Group by 0.5% in the second quarter. Ifrah Financial Services Inc. now owns 3,551 shares of the company’s stock worth $207,000 after buying an additional 18 shares during the last quarter. Boston Private Wealth LLC boosted its stake in shares of Alaska Air Group by 0.7% in the second quarter. Boston Private Wealth LLC now owns 3,622 shares of the company’s stock worth $211,000 after buying an additional 26 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Alaska Air Group by 0.8% in the second quarter. Synovus Financial Corp now owns 6,178 shares of the company’s stock worth $360,000 after buying an additional 46 shares during the last quarter. Highland Capital Management LLC boosted its stake in shares of Alaska Air Group by 0.4% in the third quarter. Highland Capital Management LLC now owns 17,717 shares of the company’s stock worth $1,167,000 after buying an additional 70 shares during the last quarter. Finally, Eagle Ridge Investment Management raised its stake in Alaska Air Group by 1.7% in the second quarter. Eagle Ridge Investment Management now owns 5,317 shares of the company’s stock worth $310,000 after buying an additional 90 shares during the period. Institutional investors own 88.66% of the company’s stock.

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