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

Alaska Air Group, Inc. (NYSE:ALK) – Stock analysts at Seaport Res Ptn upped their Q3 2024 earnings per share (EPS) estimates for Alaska Air Group in a note issued to investors on Monday, June 24th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will post earnings per share of $2.25 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.

Several other brokerages have also recently weighed in on ALK. TD Cowen raised their target price on Alaska Air Group from $49.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, April 19th. StockNews.com raised Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Evercore ISI increased their price target on Alaska Air Group from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Bank of America increased their price target on Alaska Air Group from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Wolfe Research upgraded Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 price target for the company in a research report on Friday, May 17th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.60.

Alaska Air Group Price Performance

Shares of ALK opened at $40.75 on Wednesday. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 0.54 and a beta of 1.61. 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 one year low of $30.75 and a one year high of $57.18. The stock’s fifty day moving average is $42.51 and its 200-day moving average is $39.89.

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

Institutional Investors Weigh In On Alaska Air Group

A number of institutional investors have recently bought and sold shares of the business. CVA Family Office LLC boosted its position in Alaska Air Group by 17.1% during the 1st quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock worth $96,000 after acquiring an additional 325 shares during the period. Blue Trust Inc. raised its stake in shares of Alaska Air Group by 14.2% during the 4th quarter. Blue Trust Inc. now owns 2,868 shares of the transportation company’s stock worth $106,000 after purchasing an additional 357 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of 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 purchasing an additional 373 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in shares of Alaska Air Group by 0.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 153,403 shares of the transportation company’s stock worth $6,595,000 after purchasing an additional 391 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Alaska Air Group by 6.8% during the 4th quarter. Private Advisor Group LLC now owns 6,209 shares of the transportation company’s stock worth $243,000 after purchasing an additional 397 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.