Alaska Air Group, Inc. (NYSE:ALK) Receives $73.25 Consensus Price Target from Analysts
Alaska Air Group, Inc. (NYSE:ALK) has earned an average rating of “Buy” from the eighteen analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $73.25.
A number of brokerages recently weighed in on ALK. Zacks Investment Research upgraded shares of Alaska Air Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Morgan Stanley increased their price target on shares of Alaska Air Group from $76.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. ValuEngine downgraded shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Citigroup set a $66.00 price target on shares of Alaska Air Group and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. upgraded shares of Alaska Air Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $71.00 to $72.00 in a research report on Tuesday, April 30th.
NYSE:ALK traded down $0.48 during mid-day trading on Tuesday, reaching $60.11. 740,400 shares of the company were exchanged, compared to its average volume of 1,371,582. Alaska Air Group has a 12 month low of $53.39 and a 12 month high of $74.83. The company has a fifty day moving average of $63.34 and a 200 day moving average of $61.31. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.75. The stock has a market cap of $7.47 billion, a PE ratio of 13.48, a PEG ratio of 0.48 and a beta of 0.86.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Tuesday, August 20th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, August 19th. This represents a $1.40 annualized dividend and a yield of 2.33%. Alaska Air Group’s dividend payout ratio (DPR) is currently 31.39%.
In other Alaska Air Group news, VP Kyle B. Levine sold 2,430 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $157,950.00. Following the sale, the vice president now directly owns 8,039 shares in the company, valued at approximately $522,535. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.43% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. TRUE Private Wealth Advisors bought a new position in shares of Alaska Air Group during the 2nd quarter worth approximately $25,000. Investors Research Corp bought a new position in shares of Alaska Air Group during the 1st quarter worth approximately $28,000. Point72 Hong Kong Ltd bought a new position in shares of Alaska Air Group during the 2nd quarter worth approximately $29,000. Icon Wealth Partners LLC bought a new position in shares of Alaska Air Group during the 1st quarter worth approximately $36,000. Finally, Sandy Spring Bank grew its stake in shares of Alaska Air Group by 58.8% during the 1st quarter. Sandy Spring Bank now owns 794 shares of the transportation company’s stock worth $45,000 after acquiring an additional 294 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.
About Alaska Air Group
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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