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The Zacks Analyst Blog Highlights: Hawaiian Holdings, Allegiant Travel, Copa Holdings, Alaska Air Group and United Continental Holdings
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For Immediate Release
Chicago, IL – November 24, 2017 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Hawaiian Holdings , Allegiant Travel Company (ALGT - Free Report) , Copa Holdings (CPA - Free Report) , Alaska Air Group (ALK - Free Report) and United Continental Holdings (UAL - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
Airline Stock Roundup: HA's Long-Serving CEO to Retire, CPA, ALGT in Focus
This week Hawaiian Airlines — the wholly owned subsidiary of Hawaiian Holdings — announced the appointment of Peter Ingram as its president and chief executive officer. Notably, Ingram will replace Mark Dunkerley from Mar 1, 2018, as a result of the latter’s retirement.
Additionally, Allegiant Air, which is owned by Allegiant Travel Company, grabbed headlines by virtue of its pay-related tentative five-year deal with the union representing its flight attendants. During the week, Copa Holdings and Alaska Air Group unveiled their respective traffic numbers for October. While load factor (percentage of seats filled by passengers) increased at Copa Holdings, the metric declined at Alaska Air Group as capacity expansion was surpassed by traffic growth at the Seattle, WA based carrier.
Furthermore, expansion-related updates from United Continental Holdings and Alaska Air Group’s subsidiary, Alaska Airlines, also grabbed headlines in the past five trading days.
1. Hawaiian Airlines announced that its CEO Mark Dunkerley will retire in March 2018. Dunkerley will be succeeded by Peter Ingram, currently the airline’s chief commercial officer. Having joined the company in 2002, Dunkerley served the post since 2005 for both Hawaiian Airlines as well as its parent company. His tenure has been one of the longest in the airline industry. (Read more: Hawaiian Holdings Arm to Bid CEO Dunkerley Adieu Next March)
2. Copa Holdings reported a substantial rise in traffic for October. Traffic — measured in revenue passenger miles (RPMs) — came in at 1.71 billion, up 13.5% on a year-over-year basis.
Consolidated capacity (or available seat miles/ASMs) expanded 11.5% to 2 billion. Load factor expanded 150 basis points (bps) to 84.8% as traffic growth outweighed capacity expansion of this Zacks Rank #3 (Hold) company. (Read more: Copa Holdings' October Traffic and Load Factor Rise)
3. At Alaska Air Group, RPMs came in 4.37 billion, up 11%. ASMs rose 11.6% to 5.21 billion. Load factor contracted 40 bps to 83.8% as capacity expansion outpaced traffic growth. (Read more: Alaska Air Group Traffic Rises in October, Load Factor Dips)
On a separate note, Alaska Airlines announced its decision to start operating flights on a daily basis connecting Seattle and Pittsburgh from Sep 6, 2018. These nonstop flights will be the first such service connecting two popular destinations. (Read more: Alaska Air Group Arm to Initiate Seattle-Pittsburgh Flights)
4. Allegiant Air announced that it has reached a tentative agreement with Transport Workers Union (TWU), which represents its 1,150 flight attendants after many years of negotiation. Tentative agreements, however, do not necessarily mean that the deal will be operational. They will be effective only on ratification. In fact, Allegiant and TWU had reached a tentative deal last year as well. However, it was voted down by the flight attendants. Allegiant will be hoping that results of the ratification vote are favorable this time. Results of the ratification vote are anticipated to be out by year end. The deal, if ratified, will result in significant pay raises for the flight attendants.
5. In a bid to expand its domestic network, United Continental announced its decision to add flights from five of its hubs in the United States to 10 cities in California, Florida, Montana, New York, North Carolina, Oregon and Texas. The daily year-round flights, expected to be launched in April 2018, will meet the surge in demand for air travel next spring. The company also intends to start operating daily seasonal flights from the O'Hare International Airport (ORD) and Los Angeles (LAX) from June 2018, as part of its expansion drive. The carrier also aims to enhance operations at ORD from February 2018.
What's Next in the Airline Space?
With the earnings season over, stay tuned for the usual news updates in the space. Moreover, it is likely to be a busy week for carriers ahead with the Thanksgiving week in progress. Stay tuned for further updates on the issue.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year.See these high-potential stocks free >>.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: Hawaiian Holdings, Allegiant Travel, Copa Holdings, Alaska Air Group and United Continental Holdings
For Immediate Release
Chicago, IL – November 24, 2017 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Hawaiian Holdings , Allegiant Travel Company (ALGT - Free Report) , Copa Holdings (CPA - Free Report) , Alaska Air Group (ALK - Free Report) and United Continental Holdings (UAL - Free Report) .
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Wednesday’s Analyst Blog:
Airline Stock Roundup: HA's Long-Serving CEO to Retire, CPA, ALGT in Focus
This week Hawaiian Airlines — the wholly owned subsidiary of Hawaiian Holdings — announced the appointment of Peter Ingram as its president and chief executive officer. Notably, Ingram will replace Mark Dunkerley from Mar 1, 2018, as a result of the latter’s retirement.
Additionally, Allegiant Air, which is owned by Allegiant Travel Company, grabbed headlines by virtue of its pay-related tentative five-year deal with the union representing its flight attendants. During the week, Copa Holdings and Alaska Air Group unveiled their respective traffic numbers for October. While load factor (percentage of seats filled by passengers) increased at Copa Holdings, the metric declined at Alaska Air Group as capacity expansion was surpassed by traffic growth at the Seattle, WA based carrier.
Furthermore, expansion-related updates from United Continental Holdings and Alaska Air Group’s subsidiary, Alaska Airlines, also grabbed headlines in the past five trading days.
(Read the last Airline Stock Roundup for Nov 15, 2017).
Recap of the Past Week’s Most Important Stories
1. Hawaiian Airlines announced that its CEO Mark Dunkerley will retire in March 2018. Dunkerley will be succeeded by Peter Ingram, currently the airline’s chief commercial officer. Having joined the company in 2002, Dunkerley served the post since 2005 for both Hawaiian Airlines as well as its parent company. His tenure has been one of the longest in the airline industry. (Read more: Hawaiian Holdings Arm to Bid CEO Dunkerley Adieu Next March)
2. Copa Holdings reported a substantial rise in traffic for October. Traffic — measured in revenue passenger miles (RPMs) — came in at 1.71 billion, up 13.5% on a year-over-year basis.
Consolidated capacity (or available seat miles/ASMs) expanded 11.5% to 2 billion. Load factor expanded 150 basis points (bps) to 84.8% as traffic growth outweighed capacity expansion of this Zacks Rank #3 (Hold) company. (Read more: Copa Holdings' October Traffic and Load Factor Rise)
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3. At Alaska Air Group, RPMs came in 4.37 billion, up 11%. ASMs rose 11.6% to 5.21 billion. Load factor contracted 40 bps to 83.8% as capacity expansion outpaced traffic growth. (Read more: Alaska Air Group Traffic Rises in October, Load Factor Dips)
On a separate note, Alaska Airlines announced its decision to start operating flights on a daily basis connecting Seattle and Pittsburgh from Sep 6, 2018. These nonstop flights will be the first such service connecting two popular destinations. (Read more: Alaska Air Group Arm to Initiate Seattle-Pittsburgh Flights)
4. Allegiant Air announced that it has reached a tentative agreement with Transport Workers Union (TWU), which represents its 1,150 flight attendants after many years of negotiation. Tentative agreements, however, do not necessarily mean that the deal will be operational. They will be effective only on ratification. In fact, Allegiant and TWU had reached a tentative deal last year as well. However, it was voted down by the flight attendants. Allegiant will be hoping that results of the ratification vote are favorable this time. Results of the ratification vote are anticipated to be out by year end. The deal, if ratified, will result in significant pay raises for the flight attendants.
5. In a bid to expand its domestic network, United Continental announced its decision to add flights from five of its hubs in the United States to 10 cities in California, Florida, Montana, New York, North Carolina, Oregon and Texas. The daily year-round flights, expected to be launched in April 2018, will meet the surge in demand for air travel next spring. The company also intends to start operating daily seasonal flights from the O'Hare International Airport (ORD) and Los Angeles (LAX) from June 2018, as part of its expansion drive. The carrier also aims to enhance operations at ORD from February 2018.
What's Next in the Airline Space?
With the earnings season over, stay tuned for the usual news updates in the space. Moreover, it is likely to be a busy week for carriers ahead with the Thanksgiving week in progress. Stay tuned for further updates on the issue.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year.See these high-potential stocks free >>.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.