Alaska Air Group (NYSE:ALK) Releases Q2 Earnings Guidance

Alaska Air Group (NYSE:ALK) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.20-3.20 for the period, compared to the consensus estimate of $2.12. Alaska Air Group also updated its FY 2024 guidance to 3.250-5.250 EPS.

Analyst Ratings Changes

Several brokerages have weighed in on ALK. Melius cut Alaska Air Group from a buy rating to a hold rating in a research note on Monday, January 8th. Evercore ISI raised their price objective on Alaska Air Group from $55.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, April 4th. TD Cowen raised their price objective on Alaska Air Group from $49.00 to $58.00 and gave the company a buy rating in a research note on Friday. Susquehanna lifted their target price on Alaska Air Group from $40.00 to $42.00 and gave the stock a neutral rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft upgraded Alaska Air Group from a hold rating to a buy rating and lifted their target price for the stock from $44.00 to $51.00 in a research note on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $57.85.

Alaska Air Group Trading Up 1.3 %

Shares of ALK opened at $45.02 on Friday. The business has a 50-day moving average of $39.68 and a 200 day moving average of $37.22. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $57.18. The firm has a market cap of $5.66 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 0.89 and a beta of 1.63. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.58 and a current ratio of 0.65.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.09) by $0.17. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the firm posted ($0.62) EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, research analysts forecast that Alaska Air Group will post 4.41 EPS for the current year.

Insider Buying and Selling at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 6,500 shares of Alaska Air Group stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the transaction, the executive vice president now owns 26,048 shares of the company’s stock, valued at approximately $999,201.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC grew its holdings in Alaska Air Group by 12.2% during the 4th quarter. McIlrath & Eck LLC now owns 2,149 shares of the transportation company’s stock valued at $92,000 after buying an additional 234 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Alaska Air Group by 19.9% during the first quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock worth $105,000 after purchasing an additional 300 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Alaska Air Group by 5.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,906 shares of the transportation company’s stock worth $270,000 after purchasing an additional 333 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of Alaska Air Group by 3.3% during the fourth quarter. Vident Advisory LLC now owns 10,660 shares of the transportation company’s stock worth $416,000 after purchasing an additional 338 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Alaska Air Group by 5.6% during the fourth quarter. Captrust Financial Advisors now owns 6,552 shares of the transportation company’s stock worth $281,000 after purchasing an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.

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.