Alaska Air Group, Inc. (NYSE:ALK) EVP Andrew R. Harrison sold 4,700 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $62.63, for a total transaction of $294,361.00. Following the sale, the executive vice president now directly owns 15,867 shares in the company, valued at $993,750.21. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
ALK traded up $0.96 during trading on Friday, reaching $63.12. 1,210,098 shares of the company traded hands, compared to its average volume of 1,476,985. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.59 and a quick ratio of 0.57. Alaska Air Group, Inc. has a 12-month low of $53.39 and a 12-month high of $74.83. The firm has a market cap of $7.78 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 0.62 and a beta of 0.84.
Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, April 25th. The transportation company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Alaska Air Group had a net margin of 5.26% and a return on equity of 14.97%. Alaska Air Group’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. On average, sell-side analysts anticipate that Alaska Air Group, Inc. will post 5.7 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.22%. The ex-dividend date was Monday, May 20th. Alaska Air Group’s payout ratio is 31.39%.
Several large investors have recently added to or reduced their stakes in ALK. State of Alaska Department of Revenue raised its holdings in shares of Alaska Air Group by 10.1% in the first quarter. State of Alaska Department of Revenue now owns 26,274 shares of the transportation company’s stock valued at $1,473,000 after acquiring an additional 2,409 shares in the last quarter. Verity Asset Management Inc. raised its holdings in shares of Alaska Air Group by 17.9% in the fourth quarter. Verity Asset Management Inc. now owns 5,407 shares of the transportation company’s stock valued at $329,000 after acquiring an additional 820 shares in the last quarter. BB&T Corp grew its stake in Alaska Air Group by 6.7% in the first quarter. BB&T Corp now owns 83,138 shares of the transportation company’s stock valued at $4,666,000 after purchasing an additional 5,190 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Alaska Air Group by 1,222.5% in the fourth quarter. Nuveen Asset Management LLC now owns 160,409 shares of the transportation company’s stock valued at $9,761,000 after purchasing an additional 148,280 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Alaska Air Group by 18.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 457,190 shares of the transportation company’s stock valued at $27,818,000 after purchasing an additional 71,400 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.
Several equities analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of Alaska Air Group from $76.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. JPMorgan Chase & Co. upgraded shares of Alaska Air Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $71.00 to $72.00 in a research note on Tuesday, April 30th. Deutsche Bank lowered their price objective on shares of Alaska Air Group from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Zacks Investment Research upgraded shares of Alaska Air Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, Credit Suisse Group set a $76.00 price objective on shares of Alaska Air Group and gave the stock a “buy” rating in a research note on Friday, April 12th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $76.43.
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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.
Read More: Intrinsic Value
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