Alaska Air Group (NYSE:ALK) Shares Gap Up on Earnings Beat

Alaska Air Group, Inc. (NYSE:ALK)’s share price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $67.40, but opened at $69.76. Alaska Air Group shares last traded at $70.96, with a volume of 1,113,132 shares.

The transportation company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.52. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%.

Wall Street Analysts Forecast Growth

ALK has been the subject of several research analyst reports. TD Cowen increased their price objective on Alaska Air Group from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Bank of America increased their target price on Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Citigroup increased their target price on Alaska Air Group from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. The Goldman Sachs Group increased their target price on Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, UBS Group increased their target price on Alaska Air Group from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.57.

Insider Transactions at Alaska Air Group

In other news, SVP Andrea L. Schneider sold 800 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $63.89, for a total value of $51,112.00. Following the transaction, the senior vice president now directly owns 20,286 shares in the company, valued at $1,296,072.54. This trade represents a 3.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Shane R. Tackett sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total value of $317,800.00. Following the completion of the transaction, the chief financial officer now owns 27,362 shares in the company, valued at approximately $1,739,128.72. This trade represents a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,473 shares of company stock worth $2,198,342 in the last ninety days. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Alaska Air Group

Several institutional investors and hedge funds have recently bought and sold shares of ALK. Avior Wealth Management LLC lifted its position in Alaska Air Group by 44.8% during the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 182 shares in the last quarter. Pacific Center for Financial Services purchased a new position in Alaska Air Group during the third quarter valued at $45,000. Venturi Wealth Management LLC lifted its position in Alaska Air Group by 86.0% during the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 474 shares in the last quarter. Pacifica Partners Inc. lifted its position in Alaska Air Group by 952.4% during the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 1,000 shares in the last quarter. Finally, True Wealth Design LLC purchased a new position in Alaska Air Group during the third quarter valued at $52,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Stock Up 2.0 %

The company has a market capitalization of $8.72 billion, a PE ratio of 27.71, a P/E/G ratio of 0.61 and a beta of 1.54. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The company has a 50-day moving average of $61.44 and a two-hundred day moving average of $48.06.

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.