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

52.93

Mkt cap

6.8B

Volume

1.8M

High

54.00

P/E Ratio

21.00

52-wk high

54.00

Low

52.93

Div yield

N/A

52-wk low

32.00

The upcoming solar eclipse on April 8 is expected to boost the U.S. economy by $1.5 billion, particularly benefiting businesses in the eclipse's path. Historical data shows a positive correlation between solar eclipses and the Dow Jones Industrial Average's performance, with the Dow ending higher in 10 out of 13 total solar eclipse years since 1900. Companies like Airbnb, Choice Hotels International, United Airlines, Alaska Airlines, Amazon, Walmart, and Target are experiencing increased demand due to the eclipse, with significant surges in bookings, occupancy rates, and sales of eclipse-related products.

Portfolio Pulse from Bibhu Pattnaik

April 06, 2024 | 4:40 pm

TD Cowen analyst Helane Becker maintains a Buy rating on Alaska Air Group (ALK) and raises the price target from $41 to $49.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 3:12 pm

Boeing Co compensated Alaska Air Group Inc with $160 million for the 737-9 MAX groundings' impact on Q1 operations, causing significant financial losses. Despite these challenges, Alaska Air's adjusted pretax profit would have seen an 80% increase over the previous year without these issues. Additional compensation is expected, with the terms undisclosed. The compensation will mainly reduce aircraft assets, affecting EPS expectations. Alaska Air's shares rose by 4.58% to $43.80.

Portfolio Pulse from Shivani Kumaresan

April 04, 2024 | 5:29 pm

Four analysts have recently updated their ratings on Alaska Air Group Inc (NYSE:ALK), showing a mix of bullish and somewhat bullish sentiments. The average 12-month price target is now $52.5, up from $49.50, with individual targets ranging from $40.00 to $65.00. Analysts from Evercore ISI Group, UBS, Deutsche Bank, and Susquehanna have adjusted their ratings and price targets, reflecting optimism about the company's future performance despite a recent revenue decline of -10.07% and a lower market capitalization compared to industry averages. However, Alaska Air Group's financial health is strong, with efficient cost management and a prudent financial strategy.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 5:01 pm

Evercore ISI Group analyst Duane Pfennigwerth has maintained an Outperform rating on Alaska Air Group (ALK) and raised the price target from $55 to $65.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 4:21 pm

United Airlines Holdings Inc (NASDAQ:UAL) is urging pilots to take unpaid leave due to delays in aircraft deliveries from Boeing Company (NYSE:BA), impacting United's expansion plans. The delays are attributed to Boeing's production and certification issues, affecting United's 2024 forecast block hours. The situation has led to adjustments in United's expected deliveries from Boeing and has been a concern for United's CEO Scott Kirby. Boeing's CEO Dave Calhoun announced his departure amid these challenges. United Airlines' stock saw a slight increase of 0.46% to $48.10.

Portfolio Pulse from Shivani Kumaresan

April 01, 2024 | 5:06 pm

Hawaiian Holdings and Alaska Airlines have entered into a timing agreement with the DOJ, agreeing not to finalize their merger until 90 days after certifying compliance with a second request, unless the DOJ closes its investigation earlier.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 8:43 pm

Major airline executives plan to meet with Boeing's board chair Larry Kellner to discuss recent safety issues, excluding CEO David Calhoun from the talks. The concerns stem from an Alaska Air Group Inc mid-air incident and ongoing production challenges. The decision to bypass the CEO for discussions with Kellner, a former airline CEO, signals potential dissatisfaction with Boeing's leadership. The FAA has emphasized the need for safety and quality improvements at Boeing.

Portfolio Pulse from Shivani Kumaresan

March 22, 2024 | 1:20 pm

Alaska Airlines has introduced Alaska Access, a new subscription service offering exclusive deals including discounted Wi-Fi and other cost-saving benefits.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:20 pm

UBS analyst Atul Maheswari initiates coverage on Alaska Air Group (ALK) with a Buy rating and a price target of $54.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 9:08 am

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