Alaska Air Group, Inc. (NYSE:ALK) Short Interest Down 5.7% in September

Alaska Air Group, Inc. (NYSE:ALK) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 8,500,000 shares, a decline of 5.7% from the August 31st total of 9,010,000 shares. Based on an average trading volume of 2,350,000 shares, the short-interest ratio is presently 3.6 days.

Alaska Air Group Stock Performance

Shares of NYSE ALK opened at $45.12 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. The stock has a 50 day moving average price of $37.83 and a 200 day moving average price of $40.20. The stock has a market capitalization of $5.73 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 0.54 and a beta of 1.59. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $46.15.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.36 by $0.19. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the firm posted $3.00 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts predict that Alaska Air Group will post 4.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALK. Altshuler Shaham Ltd bought a new position in Alaska Air Group during the second quarter worth $28,000. LifeSteps Financial Inc. acquired a new stake in shares of Alaska Air Group during the 1st quarter worth about $65,000. Parallel Advisors LLC boosted its holdings in shares of Alaska Air Group by 28.4% during the 4th quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock worth $66,000 after buying an additional 373 shares during the period. Canada Pension Plan Investment Board acquired a new position in Alaska Air Group in the 2nd quarter valued at about $69,000. Finally, Halpern Financial Inc. bought a new position in Alaska Air Group in the 2nd quarter valued at about $81,000. 81.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALK has been the topic of a number of analyst reports. Citigroup cut their price target on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Bank of America increased their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Morgan Stanley cut their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Susquehanna decreased their price target on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Finally, TD Cowen raised their price objective on Alaska Air Group from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Alaska Air Group presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

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.