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Alaska Air Group (NYSE:ALK) Upgraded at StockNews.com

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Alaska Air Group (NYSE:ALK) Upgraded at StockNews.com



Alaska Air Group (NYSE:ALK – Get Free Report) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Other equities research analysts also recently issued research reports about the stock. Susquehanna raised their price objective on shares of Alaska Air Group from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday. Bank of America raised their price objective on shares of Alaska Air Group from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Friday. UBS Group began coverage on shares of Alaska Air Group in a research report on Wednesday, March 20th. They issued a “buy” rating and a $54.00 price objective for the company. Evercore ISI raised their price objective on shares of Alaska Air Group from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Melius downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Alaska Air Group currently has an average rating of “Moderate Buy” and an average target price of $57.85.

View Our Latest Research Report on ALK

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Alaska Air Group Stock Performance

NYSE ALK opened at $45.01 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 0.85. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $57.18. The business’s 50-day moving average price is $39.68 and its 200 day moving average price is $37.23. The firm has a market cap of $5.66 billion, a P/E ratio of 24.07, a P/E/G ratio of 0.89 and a beta of 1.63.

Alaska Air Group (NYSE:ALK – Get Free Report) last released its quarterly earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.17. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the company posted ($0.62) earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. On average, equities research analysts expect that Alaska Air Group will post 4.41 earnings per share for the current year.

Insider Activity

In related news, EVP Andrew R. Harrison sold 6,500 shares of Alaska Air Group stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the transaction, the executive vice president now directly owns 26,048 shares in the company, valued at approximately $999,201.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its stake in Alaska Air Group by 1,676.8% in the 4th quarter. International Assets Investment Management LLC now owns 149,089 shares of the transportation company’s stock worth $58,250,000 after acquiring an additional 140,698 shares during the period. Wellington Management Group LLP grew its stake in Alaska Air Group by 16.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,554,257 shares of the transportation company’s stock worth $94,712,000 after acquiring an additional 358,749 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Alaska Air Group in the 4th quarter worth approximately $2,813,000. Bank of New York Mellon Corp grew its stake in Alaska Air Group by 6.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,213,630 shares of the transportation company’s stock worth $45,001,000 after acquiring an additional 71,726 shares during the period. Finally, Deutsche Bank AG grew its stake in Alaska Air Group by 63.4% in the 3rd quarter. Deutsche Bank AG now owns 366,619 shares of the transportation company’s stock worth $13,594,000 after acquiring an additional 142,310 shares during the period. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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Alaska Air Group Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Alaska Air Group (NYSE:ALK)



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Over $150K worth of drugs seized from man in Juneau, police say

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Over 0K worth of drugs seized from man in Juneau, police say


JUNEAU, Alaska (KTUU) – An Alaska drug task force seized roughly $162,000 worth of controlled substances during an operation in Juneau Thursday, according to the Juneau Police Department.

Around 3 p.m. Thursday, investigators with the Southeast Alaska Cities Against Drugs (SEACAD) approached 50-year-old Juneau resident Jermiah Pond in the Nugget Mall parking lot while he was sitting in his car, according to JPD.

A probation search of the car revealed a container holding about 7.3 gross grams of a substance that tested presumptively positive for methamphetamine, as well as about 1.21 gross grams of a substance that tested presumptively positive for fentanyl.

As part of the investigation, investigators executed a search warrant at Pond’s residence, during which they found about 46.63 gross grams of ketamine, 293.56 gross grams of fentanyl, 25.84 gross grams of methamphetamine and 25.5 gross grams of MDMA.

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In all, it amounted to just less than a pound of drugs worth $162,500.

Investigators also seized $102,640 in cash and multiple recreational vehicles believed to be associated with the investigation.

Pond was lodged on charges of second-degree misconduct involving a controlled substance, two counts of third-degree misconduct involving a controlled substance, five counts of fourth-degree misconduct involving a substance and an outstanding felony probation warrant.

See a spelling or grammar error? Report it to web@ktuu.com

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Alaska

Sand Point teen found 3 days after going missing in lake

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Sand Point teen found 3 days after going missing in lake


SAND POINT, Alaska (KTUU) – A teenage boy who was last seen Monday when the canoe he was in tipped over has been found by a dive team in a lake near Sand Point, according to a person familiar with the situation.

Alaska’s News Source confirmed with the person, who is close to the search efforts, that the dive team found 15-year-old Kaipo Kaminanga deceased Thursday in Red Cove Lake, located a short drive from the town of Sand Point on the Aleutian Island chain.

Kaminanga was last seen canoeing with three other friends on Monday when the boat tipped over.

A search and rescue operation ensued shortly after.

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Alaska Dive Search Rescue and Recovery Team posted on Facebook Thursday night that they were able to “locate and recover” Kaminanga at around 5 p.m. Thursday.

“We are glad we could bring closure to his family, friends and community,” the post said.

This is a breaking news story and will be updated when more details become available.

See a spelling or grammar error? Report it to web@ktuu.com

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Opinion: Homework for Alaska: Sales tax or income tax?

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Opinion: Homework for Alaska: Sales tax or income tax?


iStock / Getty Images

This is a tax tutorial for gubernatorial candidates, for legislators who will report to work next year and for the Alaska public.

Think of it as homework, with more than eight months to complete the assignment that is not due until the November election. The homework is intended to inform, not settle the debate over a state sales tax or state income tax — or neither, which is the preferred option for many Alaskans.

But for those Alaskans willing to consider a tax as a personal responsibility to help fund schools, roads, public safety, child care, state troopers, prisons, foster care and everything else necessary for healthy and productive lives, someday they will need to decide on a state income tax or a state sales tax after they accept the checkbook reality that oil and Permanent Fund earnings are not enough.

This homework assignment is intended to get people thinking with facts, not emotions. Electing the right candidates will be the first test.

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Alaskans have until the next election because nothing will change this year. It will take a new political alignment led by a reality-based governor to organize support in the Legislature and among the public.

But next year, maybe, with the right elected leadership, Alaskans can debate a state sales tax or personal income tax. Plus, of course, corporate taxes and oil production taxes, but those are for another school day.

One of the biggest arguments in favor of a state sales tax is that visitors would pay it. Yes, they would, but not as much as many Alaskans think.

Air travel is exempt from sales taxes. So are cruise ship tickets. That’s federal law, which means much of what tourists spend on their Alaska vacation is beyond the reach of a state sales tax.

Cutting further into potential revenues, state and federal law exempts flightseeing tours from sales tax, which is a particularly costly exemption when you think about how much visitors spend on airplane and helicopter tours.

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That leaves sales tax supporters collecting from tourists on T-shirts, gifts for grandchildren, artwork, postcards, hotels, Airbnb, car rentals and restaurant meals. Still a substantial take for taxes, but far short of total tourism spending.

An argument against a state sales tax is that more than 100 cities and boroughs already depend on local sales taxes to pay for schools and other public services. Try to imagine what a state tax piled on top of a local tax would do to kill shopping in Homer, already at 7.85%, or Kodiak, Wrangell and Cordova, all at 7%, and all the other municipalities.

Supporters of an income tax say it would share the responsibility burden with nonresidents who earn income in Alaska and then return home to spend their money.

Almost one in four workers in Alaska in 2024 were nonresidents, as reported by the state Department of Labor in January. That doesn’t include federal employees, active-duty military or self-employed people.

Nonresidents earned roughly $3.8 billion, or about 17% of every dollar covered in the report.

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However, many of those nonresident workers are lower-wage and seasonal, employed in the seafood processing and tourism industries, unlikely to pay much in income taxes. But a tax could be structured so that they pay something, which is fair.

Meanwhile, higher-wage workers in oil and gas, mining, construction and airlines (freight and passenger service) would pay taxes on their income earned in Alaska, which also is fair.

It comes down to what would direct more of the tax burden to nonresidents: a tax on income or on visitor spending. Wages or wasabi-crusted salmon dinners.

Larry Persily is a longtime Alaska journalist, with breaks for federal, state and municipal public policy work in Alaska and Washington, D.C. He lives in Anchorage and is publisher of the Wrangell Sentinel weekly newspaper.

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