Streetbeat News

ALK

Alaska Air Group, Inc.

https://www.alaskaair.com

Industry

Airlines, Airports & Air Services

Alaska Air Group, Inc., through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc. was founded in 1932 and is based in Seattle, Washington.

Open

51.50

Mkt cap

6.4B

Volume

1.6M

High

52.15

P/E Ratio

20.31

52-wk high

52.15

Low

50.99

Div yield

N/A

52-wk low

32.00

Analysts have provided mixed ratings for Alaska Air Group (NYSE: ALK) over the past quarter, with a notable increase in the average 12-month price target from $46.00 to $53.14. Recent actions include several analysts raising their price targets and ratings, reflecting a more optimistic outlook.

Portfolio Pulse from Benzinga Insights

May 17, 2024 | 7:01 pm

Spirit AeroSystems (SPR) is laying off 400-450 employees due to a production slowdown at Boeing (BA), its largest client. The layoffs are linked to quality issues with the 737 MAX jets and delays in Boeing's acquisition of Spirit. Boeing has reduced production rates, impacting Spirit's operations. Spirit's stock has gained over 24% in the last 12 months, and investors can gain exposure through ETFs like XAR and ITA.

Portfolio Pulse from Shivani Kumaresan

May 17, 2024 | 1:40 pm

Wolfe Research has upgraded Alaska Air Group (NYSE:ALK) from Peer Perform to Outperform and set a price target of $55.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 11:42 am

Major airline stocks, including Boeing, United Airlines, Ryanair, and Delta, traded lower pre-market as President Biden signed the FAA Reauthorization Act into law. The Act aims to improve airline passenger experience and safety standards. Southwest Airlines and Alaska Air Group saw slight gains.

Portfolio Pulse from Pooja Rajkumari

May 17, 2024 | 10:35 am

The U.S. House of Representatives has approved a comprehensive aviation safety and consumer reform bill, which will now be sent to President Biden for approval. This legislation aims to enhance aviation safety standards and improve consumer protections.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 6:24 pm

Major airlines, including Delta, American, United, JetBlue, Hawaiian, and Alaska Airlines, have sued the Biden administration over a new rule requiring upfront disclosure of additional fees. Transportation Secretary Pete Buttigieg expressed astonishment at the lawsuit, emphasizing the rule's intent to protect consumers from hidden fees.

Portfolio Pulse from Benzinga Neuro

May 15, 2024 | 1:09 am

U.S. airlines are anticipating a record summer travel season in 2024, with passenger numbers expected to rise by 6.3% compared to 2023, according to a trade group report cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:31 pm

HSBC analyst Achal Kumar initiated coverage on several airline stocks, forecasting a strong recovery and consolidation in the airline industry. Kumar highlighted the continued recovery in corporate travel, stronger international demand, and tighter capacity as positive factors. Delta Air Lines, Inc. (DAL) was given a buy rating with a price target of $72.80, praised for its competitive positioning and premium traffic revenue. American Airlines Group, Inc. (AAL) also received a buy rating with a price target of $17.90, noted for its strong Atlantic and LatAm market positions and partnership with Alaska Airlines Group, Inc. (ALK). United Airlines Holdings, Inc. (UAL) was rated buy with a price target of $69.20, recognized for its high potential return despite being a riskier option. Southwest Airlines Company (LUV) was given a hold rating with a price target of $27.80, acknowledged for its low-cost advantage but also noted for cost pressures and dependency on Max aircraft. Shares of DAL, AAL, UAL, and LUV were all trading higher at the last check.

Portfolio Pulse from Lekha Gupta

May 13, 2024 | 6:30 pm

Major U.S. airlines, including American Airlines, Delta Air Lines, United Airlines, JetBlue Airways, Hawaiian Holdings, and Alaska Air Group, have filed a lawsuit against the U.S. Transportation Department over a new rule requiring upfront disclosure of fees. The airlines argue that the rule, which aims to enhance consumer transparency and prevent unexpected charges, is confusing and infringes on private business operations. Southwest Airlines is not part of the lawsuit, supporting certain provisions of the rule.

Portfolio Pulse from Shivani Kumaresan

May 13, 2024 | 5:35 pm

Major airlines, including American Airlines (AAL), Alaska Air Group (ALK), Delta Air Lines (DAL), JetBlue Airways (JBLU), Southwest Airlines (LUV), Spirit Airlines (SAVE), and United Airlines Holdings (UAL), have filed a lawsuit against the Biden administration over new fee disclosure rules. These rules require airlines to disclose upfront all fees related to baggage, changes, and cancellations. The airlines argue that these regulations are overly burdensome and could harm their business operations.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 2:25 pm

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