Alaska Air Group, Inc. (NYSE:ALK – Get Rating) – Equities research analysts at Seaport Res Ptn lowered their FY2023 earnings estimates for Alaska Air Group in a research report issued to clients and investors on Monday, September 26th. Seaport Res Ptn analyst D. Mckenzie now expects that the transportation company will earn $5.30 per share for the year, down from their prior forecast of $7.00. The consensus estimate for Alaska Air Group's current full-year earnings is $4.37 per share. Seaport Res Ptn also issued estimates for Alaska Air Group's FY2024 earnings at $6.75 EPS.

Several other research firms have also recently weighed in on ALK. StockNews.com upgraded shares of Alaska Air Group from a "hold" rating to a "buy" rating in a research note on Friday, July 22nd. Barclays reduced their target price on shares of Alaska Air Group from $61.00 to $45.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 12th. Morgan Stanley reduced their target price on shares of Alaska Air Group from $73.00 to $70.00 and set an "overweight" rating for the company in a research note on Monday, July 25th. Susquehanna Bancshares reduced their target price on shares of Alaska Air Group from $68.00 to $50.00 and set a "positive" rating for the company in a research note on Tuesday, July 12th. Finally, Evercore ISI reduced their target price on shares of Alaska Air Group from $80.00 to $70.00 and set an "outperform" rating for the company in a research note on Monday, June 27th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Alaska Air Group currently has a consensus rating of "Moderate Buy" and an average price target of $66.44.

Alaska Air Group Stock Up 3.3 %

Alaska Air Group (NYSE:ALK – Get Rating) last released its quarterly earnings results on Thursday, July 21st. The transportation company reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.25. Alaska Air Group had a net margin of 2.54% and a return on equity of 8.97%. The company had revenue of $2.66 billion during the quarter, compared to analysts' expectations of $2.58 billion. During the same period in the prior year, the company earned ($0.30) earnings per share. The business's quarterly revenue was up 74.1% compared to the same quarter last year.

Institutional Trading of Alaska Air Group

Several hedge funds have recently modified their holdings of ALK. Massachusetts Financial Services Co. MA increased its holdings in shares of Alaska Air Group by 1.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,524,651 shares of the transportation company's stock valued at $88,445,000 after purchasing an additional 27,679 shares in the last quarter. Kestra Advisory Services LLC increased its holdings in shares of Alaska Air Group by 73.5% in the first quarter. Kestra Advisory Services LLC now owns 8,307 shares of the transportation company's stock valued at $482,000 after purchasing an additional 3,519 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Alaska Air Group by 2.2% in the first quarter. Mutual of America Capital Management LLC now owns 57,501 shares of the transportation company's stock valued at $3,336,000 after purchasing an additional 1,254 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Alaska Air Group in the first quarter valued at approximately $216,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Alaska Air Group by 9.2% in the fourth quarter. Advisors Asset Management Inc. now owns 73,016 shares of the transportation company's stock valued at $3,804,000 after purchasing an additional 6,143 shares in the last quarter. Institutional investors and hedge funds own 76.13% of the company's stock.

Insider Buying and Selling

In related news, EVP Andrew R. Harrison sold 3,275 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $45.90, for a total value of $150,322.50. Following the completion of the transaction, the executive vice president now owns 10,877 shares of the company's stock, valued at $499,254.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Andrew R. Harrison sold 2,267 shares of the firm's stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $44.13, for a total transaction of $100,042.71. Following the completion of the sale, the executive vice president now owns 14,152 shares of the company's stock, valued at $624,527.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Andrew R. Harrison sold 3,275 shares of the firm's stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $45.90, for a total transaction of $150,322.50. Following the sale, the executive vice president now directly owns 10,877 shares of the company's stock, valued at approximately $499,254.30. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

Alaska Air Group Company Profile

(Get Rating)

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc was founded in 1932 and is based in Seattle, Washington.

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