D.A. Davidson & CO. Trims Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

D.A. Davidson & CO. lessened its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 5.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 214,729 shares of the transportation company’s stock after selling 12,629 shares during the period. D.A. Davidson & CO. owned approximately 0.17% of Alaska Air Group worth $9,708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Altshuler Shaham Ltd bought a new position in shares of Alaska Air Group in the second quarter worth $28,000. Venturi Wealth Management LLC increased its stake in Alaska Air Group by 86.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after acquiring an additional 474 shares during the last quarter. Pacifica Partners Inc. raised its holdings in shares of Alaska Air Group by 952.4% in the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 1,000 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Alaska Air Group during the 3rd quarter valued at about $67,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Alaska Air Group during the 2nd quarter valued at about $69,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Price Performance

Shares of Alaska Air Group stock opened at $52.93 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. Alaska Air Group, Inc. has a one year low of $32.00 and a one year high of $54.14. The business’s 50 day simple moving average is $46.68 and its two-hundred day simple moving average is $41.74. The stock has a market capitalization of $6.72 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 1.19 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.22 by $0.03. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.83 earnings per share. Analysts forecast that Alaska Air Group, Inc. will post 4.26 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Monday, October 28th. TD Cowen cut their target price on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. The Goldman Sachs Group reissued a “buy” rating and issued a $70.00 target price on shares of Alaska Air Group in a research note on Friday, November 15th. Barclays lifted their price target on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Evercore ISI reduced their price objective on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.69.

Alaska Air Group 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.