Alaska Air Group (NYSE:ALK) PT Raised to $55.00

Alaska Air Group (NYSE:ALK) had its target price increased by equities research analysts at Bank of America from $50.00 to $55.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price points to a potential upside of 32.08% from the stock’s previous close.

ALK has been the topic of a number of other research reports. Citigroup reduced their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Susquehanna cut their price objective on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. TD Cowen raised their price objective on Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley cut their price objective on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Wolfe Research raised Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 price objective on the stock in a report on Friday, May 17th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Alaska Air Group Trading Up 4.2 %

Shares of ALK stock opened at $41.64 on Friday. The stock’s fifty day moving average price is $36.88 and its two-hundred day moving average price is $39.80. The company has a market cap of $5.25 billion, a PE ratio of 22.27, a P/E/G ratio of 0.60 and a beta of 1.59. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $46.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.19. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.00 EPS. Equities analysts predict that Alaska Air Group will post 4.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Jade Capital Advisors LLC bought a new position in shares of Alaska Air Group in the 4th quarter worth about $1,954,000. Pinebridge Investments L.P. bought a new position in shares of Alaska Air Group in the 4th quarter worth about $1,144,000. Interval Partners LP increased its position in Alaska Air Group by 100.0% in the 1st quarter. Interval Partners LP now owns 80,000 shares of the transportation company’s stock valued at $3,439,000 after buying an additional 40,000 shares in the last quarter. Capital Research Global Investors bought a new stake in Alaska Air Group in the 1st quarter valued at about $36,993,000. Finally, Raymond James & Associates increased its position in Alaska Air Group by 13.5% in the 2nd quarter. Raymond James & Associates now owns 283,581 shares of the transportation company’s stock valued at $11,457,000 after buying an additional 33,717 shares in the last quarter. 81.90% of the stock is owned by institutional investors.

About Alaska Air Group

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.