Stock Analysis:Alaska Air Group (NYSE:ALK) Target Change
In a note revealed to investors by Raymond James on Friday morning, Alaska Air Group (NYSE:ALK) had its TP boosted to $105.00. The firm at present has a solid Strong Buy rating on shares.
From a total of 14 analysts covering Alaska Air Group (NYSE:ALK) stock, 8 rate it a ”Buy”, 2 a “Sell”, and 3 a ”Hold”. This means that 62% of the ratings are positive. The highest target price is $112 while the lowest target price is $73. The mean of all analyst targets is $90.68 with a 8.21% above today’s ($82.62) stock price. Alaska Air Group was the topic of 16 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Cowen & Co maintained shares on December 4 with “Outperform” rating. Stifel Nicolaus maintained ALK stock in a recent report from October 23 with “Buy” rating. Finally, Morgan Stanley maintained the stock with “Overweight” rating in a report issued on an August 4.
Approximately 909,099 shares of stock traded hands. Alaska Air Group, Inc. (NYSE:ALK) has risen 27.30% since May 8, 2015 and is uptrending. It has outperformed by 30.32% the S&P500.
The overall sentiment of institutions has decreased to 0.9 in Q2 2015. Its down 0.15, from 1.05 in 2015Q2. The ratio worsened, as 47 institutions have sold all the shares of Alaska Air Group, Inc. that they owned while 174 funds have taken shares off the table. 56 funds have purchased shares for the first time while 142 added to their positions. These institutions now hold 115.87 million shares or 4.77% more than the 110.60 million shares they owned in 2015Q2.
The Fund Par Capital Management Inc currently is holding shares equating to 7.63% of its total portfolio in Alaska Air Group, Inc. representing a total of 4.55 million shares. Another fund,Altimeter Capital Management Lp, is holding a total of 1.13 million shares equating to 5.73% of their holdings. Additionally, Credit Capital Investments Llc has a 98,100 share stake in Alaska Air Group, Inc. which represents 5.23% of their total portfolio. The Fund, Financial Engines Advisors L.L.C., based out of California, has also built up a stake in the stock, which represents a total of 5.14% of their total portfolio. Finally Tanaka Capital Management Inc, a fund which is based in the state of New York reported a total holdings of 25,485 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 4, 2015, shareholders of Alaska Air Group, Inc. have witnessed 0 buys, and a total of 16 insider sales equating to a net activity of approximately $8.19 million . Knight Jessie J Jr sold 4,000 shares worth approximately $317,352. Fonseca Dhiren R. sold 677 shares worth approximately $53,490. Tilden Bradley D sold 5,000 shares worth approximately $384,250. Minicucci Benito sold 5,000 shares worth approximately $406,564. The company insider Sprague Joseph A sold 6,360 shares worth $514,301.
Alaska Air Group, Inc. is a holding firm of Alaska Airlines Inc. and Horizon Air Industries Inc. (Horizon). The company has a market cap of $10.61 billion. The Firm 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. It has 13.4 P/E ratio. The Firm operates in three divisions: Alaska Mainline, Alaska Regional and Horizon.
According to Zacks Investment Research, “Alaska Air Group, Inc. is a holding company and has two principal subsidiaries: Alaska Airlines, Inc. and Horizon Air Industries, Inc. Both subsidiaries operate as airlines. However, each subsidiary’s business plan, competition and economic risks differ substantially. Alaska is a major airline, operates an all jet fleet, and its average passenger trip length is 833 miles. Horizon is a regional airline, operates jet and turboprop aircraft, and its average passenger trip is 231 miles.” Get a free copy of the Zacks research report on Alaska Air Group, Inc. (ALK).