Seaport Res Ptn Analysts Reduce Earnings Estimates for Alaska Air Group, Inc. (NYSE:ALK)

Posted by on Mar 18th, 2023

Alaska Air Group, Inc. (NYSE:ALK – Get Rating) – Equities research analysts at Seaport Res Ptn decreased their Q1 2023 earnings estimates for Alaska Air Group in a research note issued on Tuesday, March 14th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will earn ($0.45) per share for the quarter, down from their previous forecast of ($0.40). The consensus estimate for Alaska Air Group’s current full-year earnings is $5.99 per share.

Alaska Air Group (NYSE:ALK – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The transportation company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.51 billion. Alaska Air Group had a net margin of 0.60% and a return on equity of 14.75%. Alaska Air Group’s revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 earnings per share.

A number of other research analysts have also issued reports on ALK. Citigroup raised their price objective on shares of Alaska Air Group from $57.50 to $58.50 and gave the company a “buy” rating in a report on Tuesday, January 31st. StockNews.com initiated coverage on shares of Alaska Air Group in a report on Thursday. They set a “hold” rating for the company. Wolfe Research lowered shares of Alaska Air Group from an “outperform” rating to a “peer perform” rating in a report on Friday, January 27th. Raymond James raised their price target on shares of Alaska Air Group from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, January 5th. Finally, Susquehanna lifted their price objective on shares of Alaska Air Group from $55.00 to $59.00 and gave the company a “positive” rating in a research note on Thursday, February 2nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alaska Air Group presently has a consensus rating of “Moderate Buy” and an average price target of $65.05.

Alaska Air Group Trading Down 2.9 %

Shares of Alaska Air Group stock opened at $39.29 on Friday. The firm’s 50-day moving average price is $48.80 and its two-hundred day moving average price is $45.61. Alaska Air Group has a 12-month low of $38.19 and a 12-month high of $61.55. The company has a quick ratio of 0.65, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 91.37, a PEG ratio of 0.36 and a beta of 1.54.

Insider Activity at Alaska Air Group

In other news, Director J Kenneth Thompson sold 3,500 shares of the stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $48.58, for a total value of $170,030.00. Following the sale, the director now directly owns 29,907 shares of the company’s stock, valued at $1,452,882.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alaska Air Group news, SVP Andrea L. Schneider sold 1,596 shares of the firm’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $50.81, for a total value of $81,092.76. Following the transaction, the senior vice president now directly owns 15,747 shares of the company’s stock, valued at $800,105.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $48.58, for a total value of $170,030.00. Following the completion of the transaction, the director now directly owns 29,907 shares in the company, valued at approximately $1,452,882.06. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. increased its stake in Alaska Air Group by 144.4% in the 3rd quarter. Alliancebernstein L.P. now owns 2,869,150 shares of the transportation company’s stock worth $112,327,000 after acquiring an additional 1,695,004 shares during the last quarter. LSV Asset Management boosted its holdings in Alaska Air Group by 174.8% during the 4th quarter. LSV Asset Management now owns 1,974,216 shares of the transportation company’s stock valued at $84,773,000 after acquiring an additional 1,255,861 shares during the period. Clearbridge Investments LLC purchased a new position in Alaska Air Group during the 1st quarter valued at $62,390,000. Dimensional Fund Advisors LP boosted its holdings in Alaska Air Group by 41.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,871,802 shares of the transportation company’s stock valued at $112,432,000 after acquiring an additional 839,832 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Alaska Air Group by 110.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,560,880 shares of the transportation company’s stock valued at $60,453,000 after acquiring an additional 819,223 shares during the period. Institutional investors own 77.04% of the company’s stock.

Alaska Air Group Company Profile

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Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional, and Horizon. The Mainline segment includes scheduled air transportation on Alaska’s Boeing and Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Mexico, Costa Rica and Belize.

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