Seaport Res Ptn Weighs in on Alaska Air Group, Inc.’s Q3 2024 Earnings (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK) – Equities research analysts at Seaport Res Ptn boosted their Q3 2024 earnings per share (EPS) estimates for Alaska Air Group in a research note issued to investors on Monday, June 24th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will earn $2.25 per share for the quarter, up from their previous forecast of $2.20. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.71 per share.

A number of other research analysts also recently issued reports on ALK. Evercore ISI boosted their price objective on Alaska Air Group from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Wolfe Research upgraded shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research note on Friday, May 17th. UBS Group initiated coverage on shares of Alaska Air Group in a research note on Wednesday, March 20th. They set a “buy” rating and a $54.00 target price on the stock. Bank of America lifted their price target on shares of Alaska Air Group from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, StockNews.com raised Alaska Air Group from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Alaska Air Group currently has a consensus rating of “Moderate Buy” and an average target price of $56.60.

Alaska Air Group Stock Performance

NYSE:ALK opened at $40.82 on Wednesday. The company has a 50 day simple moving average of $42.62 and a two-hundred day simple moving average of $39.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 0.65. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $57.18. The company has a market capitalization of $5.18 billion, a PE ratio of 21.83, a P/E/G ratio of 0.56 and a beta of 1.61.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.17. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.18 billion. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. Alaska Air Group’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.62) earnings per share.

Hedge Funds Weigh In On Alaska Air Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jade Capital Advisors LLC purchased a new position in shares of Alaska Air Group during the 4th quarter valued at about $1,954,000. Pinebridge Investments L.P. bought a new stake in shares of Alaska Air Group in the 4th quarter worth approximately $1,144,000. International Assets Investment Management LLC lifted its holdings in shares of Alaska Air Group by 1,676.8% in the 4th quarter. International Assets Investment Management LLC now owns 149,089 shares of the transportation company’s stock worth $58,250,000 after acquiring an additional 140,698 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Alaska Air Group by 16.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,554,257 shares of the transportation company’s stock valued at $94,712,000 after purchasing an additional 358,749 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in shares of Alaska Air Group during the 4th quarter valued at $2,813,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Company Profile

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.