Alaska Air Group (NYSE:ALK) Posts Earnings Results, Misses Expectations By $0.70 EPS

Alaska Air Group (NYSE:ALK) announced its quarterly earnings data on Tuesday. The transportation company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.70), FiscalAI reports. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.31 billion. Alaska Air Group had a negative return on equity of 3.11% and a negative net margin of 1.19%.

Alaska Air Group Stock Up 1.8%

Shares of Alaska Air Group stock traded up $0.61 on Tuesday, reaching $34.59. 8,961,947 shares of the company were exchanged, compared to its average volume of 3,615,397. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of -22.03 and a beta of 1.33. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.58. Alaska Air Group has a one year low of $33.03 and a one year high of $60.63. The company has a 50-day moving average of $40.78 and a 200 day moving average of $43.25.

Insider Buying and Selling at Alaska Air Group

In other news, CEO Benito Minicucci bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average cost of $40.06 per share, with a total value of $1,001,500.00. Following the completion of the purchase, the chief executive officer owned 256,582 shares of the company’s stock, valued at $10,278,674.92. This represents a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Andrew Harrison sold 5,300 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $49.67, for a total transaction of $263,251.00. Following the transaction, the executive vice president owned 25,528 shares in the company, valued at approximately $1,267,975.76. The trade was a 17.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ALK shares. UBS Group reaffirmed a “buy” rating and issued a $51.00 target price (down from $54.00) on shares of Alaska Air Group in a research report on Friday. The Goldman Sachs Group reissued a “buy” rating and set a $69.00 price target (up from $58.00) on shares of Alaska Air Group in a research report on Thursday, July 2nd. JPMorgan Chase & Co. cut their price target on shares of Alaska Air Group from $94.00 to $92.00 and set an “overweight” rating on the stock in a research report on Friday, July 24th. Susquehanna reduced their price objective on shares of Alaska Air Group from $55.00 to $50.00 and set a “positive” rating for the company in a research note on Wednesday, October 7th. Finally, TD Cowen decreased their price objective on Alaska Air Group from $46.00 to $44.00 and set a “buy” rating for the company in a report on Friday, October 2nd. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Alaska Air Group has a consensus rating of “Moderate Buy” and an average price target of $57.38.

Alaska Air Group Company Profile

Alaska Air Group, Inc is an airline holding company headquartered in Seattle, Washington. Its principal subsidiaries include Alaska Airlines and Hawaiian Airlines, which operate under separate brands while serving passengers throughout North America, the Pacific and other international markets.

Alaska Airlines provides scheduled passenger and air cargo services across the United States, Canada, Mexico, Costa Rica and the Bahamas, with a strong presence on the U.S. West Coast and in Alaska.