Barclays Initiates Coverage on Alaska Air Group (NYSE:ALK)

Analysts at Barclays started coverage on shares of Alaska Air Group (NYSE:ALK) in a research report issued on Monday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $55.00 price target on the transportation company’s stock. Barclays‘s price target indicates a potential upside of 19.59% from the company’s current price.

Other research analysts have also issued reports about the company. Bank of America lifted their target price on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, September 13th. TD Cowen reduced their target price on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Susquehanna lifted their target price on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Citigroup dropped their price target on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Morgan Stanley dropped their price target on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.80.

Alaska Air Group Stock Performance

ALK stock opened at $45.99 on Monday. The business’s 50-day moving average price is $40.08 and its two-hundred day moving average price is $40.54. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. The firm has a market cap of $5.84 billion, a PE ratio of 24.59, a P/E/G ratio of 0.66 and a beta of 1.60. Alaska Air Group has a 1-year low of $30.75 and a 1-year high of $46.87.

Institutional Trading of Alaska Air Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Alaska Air Group by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock valued at $262,789,000 after acquiring an additional 357,907 shares during the last quarter. Boston Partners increased its position in Alaska Air Group by 4.1% during the first quarter. Boston Partners now owns 3,966,594 shares of the transportation company’s stock worth $170,533,000 after buying an additional 155,403 shares during the last quarter. Point72 Asset Management L.P. increased its position in Alaska Air Group by 8.0% during the second quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock worth $119,960,000 after buying an additional 220,030 shares during the last quarter. American Century Companies Inc. increased its position in Alaska Air Group by 8.3% during the second quarter. American Century Companies Inc. now owns 1,590,078 shares of the transportation company’s stock worth $64,239,000 after buying an additional 122,325 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in Alaska Air Group by 8.6% during the first quarter. Clearbridge Investments LLC now owns 1,063,379 shares of the transportation company’s stock worth $45,715,000 after buying an additional 83,868 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

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.