Seaport Res Ptn Has Positive Outlook for ALK FY2024 Earnings

Alaska Air Group, Inc. (NYSE:ALK) – Seaport Res Ptn increased their FY2024 earnings estimates for shares of Alaska Air Group in a note issued to investors on Wednesday, December 11th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will post earnings per share of $4.38 for the year, up from their previous estimate of $4.26. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.26 per share. Seaport Res Ptn also issued estimates for Alaska Air Group’s Q4 2024 earnings at $0.47 EPS, Q4 2025 earnings at $0.70 EPS, FY2026 earnings at $7.50 EPS and FY2027 earnings at $10.00 EPS.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 earnings per share.

Several other research firms have also issued reports on ALK. Barclays upped their target price on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Evercore ISI decreased their target price on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Bank of America raised their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. UBS Group reiterated a “buy” rating and set a $72.00 price objective on shares of Alaska Air Group in a research report on Tuesday, November 26th. Finally, TD Cowen boosted their target price on shares of Alaska Air Group from $68.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Alaska Air Group currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $63.42 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. Alaska Air Group has a 12 month low of $32.62 and a 12 month high of $65.62. The company’s fifty day simple moving average is $50.11 and its 200-day simple moving average is $42.87. The firm has a market cap of $8.05 billion, a PE ratio of 25.57, a P/E/G ratio of 1.23 and a beta of 1.60.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Verdence Capital Advisors LLC lifted its stake in Alaska Air Group by 2.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company’s stock valued at $460,000 after purchasing an additional 215 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Alaska Air Group by 2.7% during the third quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock worth $419,000 after buying an additional 242 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of Alaska Air Group by 4.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock valued at $268,000 after acquiring an additional 267 shares during the last quarter. Coastwise Capital Group LLC increased its holdings in Alaska Air Group by 6.0% in the 3rd quarter. Coastwise Capital Group LLC now owns 5,354 shares of the transportation company’s stock worth $242,000 after purchasing an additional 304 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in Alaska Air Group by 3.7% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock valued at $397,000 after acquiring an additional 309 shares during the period. 81.90% of the stock is owned by institutional investors.

Insider Transactions at Alaska Air Group

In other news, SVP Andrea L. Schneider sold 3,700 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $63.50, for a total transaction of $234,950.00. Following the completion of the transaction, the senior vice president now owns 21,086 shares of the company’s stock, valued at approximately $1,338,961. The trade was a 14.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew R. Harrison sold 13,880 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $64.01, for a total value of $888,458.80. Following the completion of the sale, the executive vice president now directly owns 20,638 shares in the company, valued at $1,321,038.38. This trade represents a 40.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,580 shares of company stock valued at $1,441,209. Company insiders own 0.68% of the company’s stock.

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.