Hancock Whitney Corp Makes New Investment in Alaska Air Group, Inc. (NYSE:ALK)

Hancock Whitney Corp purchased a new stake in Alaska Air Group, Inc. (NYSE:ALK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,562 shares of the transportation company’s stock, valued at approximately $265,000.

A number of other hedge funds also recently made changes to their positions in the stock. Principal Securities Inc. bought a new position in Alaska Air Group during the 4th quarter worth approximately $39,000. LifeSteps Financial Inc. bought a new stake in Alaska Air Group during the first quarter valued at $65,000. Parallel Advisors LLC grew its holdings in Alaska Air Group by 28.4% during the 4th quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock worth $66,000 after acquiring an additional 373 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Alaska Air Group in the 2nd quarter worth about $69,000. Finally, Halpern Financial Inc. acquired a new position in shares of Alaska Air Group in the 2nd quarter valued at about $81,000. 81.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup lowered their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, August 29th. TD Cowen boosted their target price on shares of Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Susquehanna reduced their price target on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Morgan Stanley dropped their price objective on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Bank of America raised their target price on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Alaska Air Group Trading Up 4.2 %

NYSE ALK opened at $41.69 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $37.20 and a 200 day simple moving average of $39.95. Alaska Air Group, Inc. has a 12 month low of $30.75 and a 12 month high of $46.15. The firm has a market capitalization of $5.29 billion, a P/E ratio of 22.29, a PEG ratio of 0.60 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.36 by $0.19. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the company posted $3.00 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts predict that Alaska Air Group, Inc. will post 4.17 EPS for the current fiscal year.

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.