Zacks Research Equities Analysts Lift Earnings Estimates for Alaska Air Group, Inc. (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK) – Zacks Research boosted their Q2 2024 earnings per share estimates for Alaska Air Group in a research note issued on Thursday, May 2nd. Zacks Research analyst M. Basu now expects that the transportation company will earn $2.33 per share for the quarter, up from their previous estimate of $2.12. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.68 per share. Zacks Research also issued estimates for Alaska Air Group’s Q4 2025 earnings at $1.53 EPS and FY2025 earnings at $5.94 EPS.

Several other research analysts have also commented on the stock. StockNews.com raised shares of Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Susquehanna boosted their price target on shares of Alaska Air Group from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. UBS Group initiated coverage on Alaska Air Group in a research report on Wednesday, March 20th. They set a “buy” rating and a $54.00 price objective on the stock. TD Cowen lifted their target price on Alaska Air Group from $49.00 to $58.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Bank of America upped their price target on Alaska Air Group from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Alaska Air Group currently has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Alaska Air Group Stock Performance

NYSE:ALK opened at $43.19 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.63 and a current ratio of 0.65. The company has a 50 day moving average price of $41.05 and a 200 day moving average price of $38.07. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $57.18. The stock has a market capitalization of $5.43 billion, a P/E ratio of 23.10, a PEG ratio of 0.57 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.17. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.18 billion. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the company earned ($0.62) EPS.

Institutional Trading of Alaska Air Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ALK. SG Americas Securities LLC increased its position in Alaska Air Group by 44.4% during the third quarter. SG Americas Securities LLC now owns 15,945 shares of the transportation company’s stock worth $591,000 after buying an additional 4,906 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Alaska Air Group by 2.6% during the third quarter. Commonwealth Equity Services LLC now owns 62,337 shares of the transportation company’s stock worth $2,311,000 after acquiring an additional 1,597 shares during the last quarter. Xponance Inc. increased its holdings in shares of Alaska Air Group by 10.0% in the 3rd quarter. Xponance Inc. now owns 21,138 shares of the transportation company’s stock valued at $784,000 after acquiring an additional 1,918 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Alaska Air Group by 6.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 283,809 shares of the transportation company’s stock valued at $10,524,000 after purchasing an additional 16,443 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Alaska Air Group by 6.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,213,630 shares of the transportation company’s stock valued at $45,001,000 after purchasing an additional 71,726 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Insider Activity at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the sale, the executive vice president now owns 26,048 shares in the company, valued at approximately $999,201.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.92% of the stock is currently owned by corporate insiders.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.