Alaska Air Group, Inc. (NYSE:ALK) Position Lowered by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its position in Alaska Air Group, Inc. (NYSE:ALK) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,996 shares of the transportation company’s stock after selling 224 shares during the quarter. CIBC Asset Management Inc’s holdings in Alaska Air Group were worth $542,000 at the end of the most recent quarter.

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

Alaska Air Group Trading Up 0.1 %

Shares of NYSE:ALK opened at $53.12 on Thursday. Alaska Air Group, Inc. has a twelve month low of $32.00 and a twelve month high of $54.01. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.74 billion, a P/E ratio of 21.42, a P/E/G ratio of 1.22 and a beta of 1.59. The company has a 50 day moving average of $45.97 and a 200-day moving average of $41.56.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the firm posted $1.83 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Susquehanna increased their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. TD Cowen cut their price target on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Citigroup lowered their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Monday, October 28th. Finally, Bank of America boosted their price target 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. Three investment 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $57.31.

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.