Alaska Air Group (ALK) is Upgraded by JP Morgan to Overweight

Alaska Air Group (ALK) was Upgraded by JP Morgan to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. JP Morgan advised their investors in a research report released on Jul 27, 2016.

Many Wall Street Analysts have commented on Alaska Air Group. Company shares were Upgraded by Credit Suisse on Jul 25, 2016 to ” Outperform”, Firm has raised the Price Target to $ 85 from a previous price target of $70 .Alaska Air Group was Downgraded by Raymond James to ” Outperform” on Jun 14, 2016. Cowen Resumed Alaska Air Group on May 16, 2016 to “Outperform”, Price Target of the shares are set at $89.

On the company’s financial health, Alaska Air Group reported $2.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $2.09. The company had revenue of $1494.00 million for the quarter, compared to analysts expectations of $1498.56 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.76 EPS.

Alaska Air Group opened for trading at $67.7 and hit $68.55 on the upside on Thursday, eventually ending the session at $68.46, with a gain of 0.87% or 0.59 points. The heightened volatility saw the trading volume jump to 18,45,891 shares. Company has a market cap of $8,438 M.

In a different news, on Jul 19, 2016, Bradley D Tilden (CHAIRMAN, PRESIDENT AND CEO) sold 4,000 shares at $63.84 per share price. According to the SEC, on Jul 18, 2016, Mark G Eliasen (VP/FINANCE & TREASURER) sold 2,884 shares at $65.00 per share price. On May 26, 2016, Tamara S Young (VP/HUMAN RESOURCES) sold 1,859 shares at $66.77 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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