ALK Stock Price – Alaska Air Group Inc. Stock Quote (U.S.: NYSE)

Alaska Air’s stock falls after January performance data, UBS downgrade

Shares of Alaska Air Group Inc. slumped 2.2% in midday trade Thursday, after the air carrier reported January operational results, and after a downgrade at UBS. The Seattle-based carrier earlier that January load factor declined to 75.8% from 78.1% a year ago, as the 6.6% growth in capacity outpaced the 3.5% increase in traffic. For its mainline operations, which are operated by Alaska Airlines Inc. and Virgin America Inc., load factor fell 2.1 percentage points to 76.4%. For its regional operations, operated by Horizon Air Industries Inc., load factor declined 4.1 percentage points to 70.1%. Separately, UBS analyst Darryl Genovesi cut his rating to neutral from buy, and his stock price target to $70 from $77, citing concerns over competition for Seattle as a hub. The stock has gained 1.4% over the past three months, while the NYSE Arca Airline Index has gained 3.9%, the Dow Jones Transportation Average has run up 10.5% and the Dow Jones Industrial Average has climbed 7.3%.

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