Alaska Air Group (ALK) was Resumed by Cowen to “Outperform” and the brokerage firm has set the Price Target at $89. Cowen advised their investors in a research report released on May 16, 2016.
Many Wall Street Analysts have commented on Alaska Air Group. 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. Alaska Air Group was Upgraded by JP Morgan to ” Neutral” on Apr 4, 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 opened for trading at $65.72 and hit $67.14 on the upside on Friday, eventually ending the session at $66.26, with a gain of 1.05% or 0.69 points. The heightened volatility saw the trading volume jump to 22,38,063 shares. Company has a market cap of $8,167 M.
In a different news, 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 SEC, on May 5, 2016, Brandon Pedersen (EXEC VP/FINANCE & CFO) sold 13,794 shares at $69.67 per share price. On Apr 26, 2016, Andrew R Harrison (EVP & CRO) sold 13,813 shares at $76.04 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.