Alaska Air Group (ALK) is Downgraded by Raymond James to Outperform

Alaska Air Group (ALK) was Downgraded by Raymond James to ” Outperform”. Earlier the firm had a rating of “Strong Buy ” on the company shares. Raymond James advised their investors in a research report released on Jun 14, 2016.

Many Wall Street Analysts have commented on Alaska Air Group. Cowen Resumed Alaska Air Group on May 16, 2016 to “Outperform”, Price Target of the shares are set at $89.Alaska Air Group was Downgraded by Buckingham Research to ” Neutral” on Apr 22, 2016. Alaska Air Group was Upgraded by BofA/Merrill to ” Neutral” on Apr 5, 2016.

On the company’s financial health, Alaska Air Group reported $1.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $1.42. The company had revenue of $1347.00 million for the quarter, compared to analysts expectations of $1345.55 million. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS.

Alaska Air Group closed down -0.58 points or -0.86% at $66.92 with 11,18,503 shares getting traded on Friday. Post opening the session at $66.9, the shares hit an intraday low of $66.34 and an intraday high of $67.51 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 26, 2016, Tamara S Young (VP/HUMAN RESOURCES) sold 1,859 shares at $66.77 per share price. According to the SEC, on May 17, 2016, Bradley D Tilden (CHAIRMAN, PRESIDENT AND CEO) sold 5,000 shares at $66.39 per share price. On May 5, 2016, Joseph A Sprague (SR VP/COMM & EXT RELATIONS) sold 6,667 shares at $70.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Alaska Air Group Inc. is a holding company of Alaska Airlines Inc. (Alaska) and Horizon Air Industries Inc. (Horizon). The Company operates Alaska Airlines and Horizon Air airlines which together with its partner regional airlines serve approximately 100 cities through a network in Alaska the Lower 48 Hawaii Canada and Mexico. The Company operates in three segments: Alaska Mainline Alaska Regional and Horizon. Alaska Mainline is the Boeing 737 part of Alaska’s business. Alaska Regional is Alaska’s shorter distance network. Horizon operates regional aircraft. In 2014 the Company carried approximately 29 million passengers. Alaska operates a fleet of passenger jets (mainline) and contracts with Horizon SkyWest Airlines Inc. (SkyWest) and Peninsula Airways Inc. (PenAir) for regional capacity under which Alaska receives all passenger revenue from those flights. Horizon operates a fleet of turboprop aircraft and sells all of its capacity to Alaska.

Alaska Air Group

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