Bank of Montreal Can Trims Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Bank of Montreal Can lowered its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 41.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,230 shares of the transportation company's stock after selling 25,926 shares during the period. Bank of Montreal Can's holdings in Alaska Air Group were worth $1,531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pinebridge Investments L.P. purchased a new stake in shares of Alaska Air Group in the 4th quarter valued at $1,144,000. Interval Partners LP grew its position in Alaska Air Group by 100.0% during the 1st quarter. Interval Partners LP now owns 80,000 shares of the transportation company's stock worth $3,439,000 after purchasing an additional 40,000 shares during the period. Capital Research Global Investors purchased a new position in shares of Alaska Air Group during the 1st quarter valued at about $36,993,000. Raymond James & Associates lifted its holdings in shares of Alaska Air Group by 13.5% in the 2nd quarter. Raymond James & Associates now owns 283,581 shares of the transportation company's stock valued at $11,457,000 after buying an additional 33,717 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its stake in shares of Alaska Air Group by 238.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 869,045 shares of the transportation company's stock worth $33,954,000 after buying an additional 612,575 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ALK. Citigroup reduced their price target on Alaska Air Group from $51.00 to $48.00 and set a "buy" rating for the company in a research report on Thursday, August 29th. Bank of America lifted their target price on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, September 13th. Susquehanna lowered their price target on shares of Alaska Air Group from $42.00 to $41.00 and set a "neutral" rating on the stock in a report on Tuesday, July 16th. TD Cowen dropped their price target on shares of Alaska Air Group from $52.00 to $50.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Morgan Stanley decreased their price objective on shares of Alaska Air Group from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $52.91.

Alaska Air Group Trading Down 0.5 %

ALK stock opened at $42.48 on Friday. Alaska Air Group, Inc. has a 12-month low of $30.75 and a 12-month high of $46.15. The business's 50-day moving average is $38.03 and its 200 day moving average is $40.25. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 0.54 and a beta of 1.60.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.19. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $3.00 earnings per share. On average, sell-side analysts anticipate that Alaska Air Group, Inc. will post 4.62 EPS for the current fiscal year.

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.