Susquehanna Bancshares Initiates Coverage on Alaska Air Group (NYSE:ALK)
Investment analysts at Susquehanna Bancshares assumed coverage on shares of Alaska Air Group (NYSE:ALK) in a research note issued on Tuesday, The Fly reports. The brokerage set a “neutral” rating and a $67.00 price target on the transportation company’s stock. Susquehanna Bancshares’ price objective would indicate a potential downside of 4.38% from the company’s current price.
A number of other equities analysts have also recently commented on the company. Imperial Capital reaffirmed an “in-line” rating and issued a $70.00 target price (up from $68.00) on shares of Alaska Air Group in a report on Tuesday, August 6th. Buckingham Research raised their target price on Alaska Air Group from $78.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Macquarie cut Alaska Air Group from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $79.00 to $63.00 in a report on Monday, July 29th. UBS Group initiated coverage on Alaska Air Group in a report on Tuesday, November 12th. They issued a “neutral” rating and a $75.00 target price on the stock. Finally, Citigroup set a $66.00 price target on Alaska Air Group and gave the company a “hold” rating in a report on Friday, July 26th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $72.50.
Shares of NYSE ALK traded up $0.01 during midday trading on Tuesday, hitting $70.07. 471,129 shares of the stock traded hands, compared to its average volume of 1,223,219. The firm has a 50-day moving average of $68.08 and a two-hundred day moving average of $63.79. The firm has a market capitalization of $8.67 billion, a P/E ratio of 15.71, a PEG ratio of 0.57 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.64 and a current ratio of 0.66. Alaska Air Group has a one year low of $53.39 and a one year high of $74.83.
In other Alaska Air Group news, CFO Brandon Pedersen sold 3,830 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $71.00, for a total transaction of $271,930.00. Following the sale, the chief financial officer now directly owns 23,830 shares of the company’s stock, valued at $1,691,930. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Shane R. Tackett sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $69.95, for a total value of $104,925.00. Following the sale, the executive vice president now directly owns 8,465 shares in the company, valued at $592,126.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,804 shares of company stock worth $748,409. Insiders own 0.43% of the company’s stock.
Several institutional investors have recently modified their holdings of ALK. TRUE Private Wealth Advisors purchased a new position in shares of Alaska Air Group during the second quarter valued at about $25,000. Point72 Hong Kong Ltd purchased a new position in shares of Alaska Air Group during the second quarter valued at about $29,000. Prime Capital Investment Advisors LLC purchased a new position in shares of Alaska Air Group during the third quarter valued at about $29,000. NuWave Investment Management LLC purchased a new position in shares of Alaska Air Group during the second quarter valued at about $45,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Alaska Air Group during the second quarter valued at about $64,000. Hedge funds and other institutional investors own 87.92% 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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