Susquehanna Issues Pessimistic Forecast for Alaska Air Group (NYSE:ALK) Stock Price

Alaska Air Group (NYSE:ALK) had its price objective cut by equities researchers at Susquehanna from $95.00 to $55.00 in a report released on Monday,Benzinga reports. The firm presently has a “positive” rating on the transportation company’s stock. Susquehanna’s target price would suggest a potential upside of 23.32% from the stock’s current price.

Several other equities analysts have also recently issued reports on ALK. The Goldman Sachs Group raised their price objective on Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley boosted their price objective on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. TD Cowen increased their price objective on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. UBS Group cut Alaska Air Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $75.00 to $54.00 in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Alaska Air Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.54.

Alaska Air Group Stock Up 0.3 %

NYSE ALK traded up $0.15 during trading hours on Monday, reaching $44.60. 1,067,748 shares of the company traded hands, compared to its average volume of 2,543,322. The company has a 50 day moving average of $64.04 and a two-hundred day moving average of $57.93. The stock has a market capitalization of $5.47 billion, a PE ratio of 14.68, a PEG ratio of 0.43 and a beta of 1.37. Alaska Air Group has a 12 month low of $32.62 and a 12 month high of $78.08. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. As a group, equities analysts expect that Alaska Air Group will post 6.03 earnings per share for the current year.

Insider Buying and Selling at Alaska Air Group

In other news, CEO Joseph A. Sprague sold 9,500 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $68.90, for a total transaction of $654,550.00. Following the completion of the transaction, the chief executive officer now owns 9,840 shares in the company, valued at approximately $677,976. This trade represents a 49.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Andrew R. Harrison sold 6,600 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $76.28, for a total transaction of $503,448.00. Following the completion of the sale, the executive vice president now owns 34,030 shares in the company, valued at $2,595,808.40. The trade was a 16.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,725 shares of company stock valued at $11,217,263. 0.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alaska Air Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Friedenthal Financial acquired a new stake in shares of Alaska Air Group during the fourth quarter valued at approximately $772,000. Franklin Resources Inc. grew its holdings in shares of Alaska Air Group by 4.1% during the third quarter. Franklin Resources Inc. now owns 633,514 shares of the transportation company’s stock valued at $28,312,000 after buying an additional 24,796 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Alaska Air Group during the fourth quarter valued at $52,000. Jones Financial Companies Lllp raised its position in Alaska Air Group by 77.8% during the fourth quarter. Jones Financial Companies Lllp now owns 5,221 shares of the transportation company’s stock valued at $338,000 after buying an additional 2,284 shares during the period. Finally, HighTower Advisors LLC boosted its position in Alaska Air Group by 20.6% during the 4th quarter. HighTower Advisors LLC now owns 12,773 shares of the transportation company’s stock worth $827,000 after acquiring an additional 2,186 shares during the period. Institutional investors and hedge funds own 81.90% of the company’s stock.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.