Alaska Air Group, Inc. (NYSE:ALK) Given Average Recommendation of “Moderate Buy” by Brokerages

Alaska Air Group, Inc. (NYSE:ALK) has been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $53.80.

Several equities analysts recently weighed in on the stock. TD Cowen cut their price target on shares of 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 raised their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Morgan Stanley dropped their price objective on shares of 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. Evercore ISI dropped their price objective on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, October 3rd. Finally, Bank of America raised their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, September 13th.

Alaska Air Group Price Performance

Shares of NYSE:ALK opened at $45.54 on Friday. Alaska Air Group has a twelve month low of $30.75 and a twelve month high of $46.87. The company’s 50 day moving average is $40.93 and its 200 day moving average is $40.66. 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 company has a market cap of $5.78 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 0.66 and a beta of 1.60.

Institutional Investors Weigh In On Alaska Air Group

A number of institutional investors have recently added to or reduced their stakes in ALK. Capital Research Global Investors purchased a new position in Alaska Air Group in the 1st quarter valued at $36,993,000. Assenagon Asset Management S.A. lifted its holdings in Alaska Air Group by 2,087.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock valued at $34,490,000 after purchasing an additional 728,019 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Alaska Air Group by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock valued at $262,789,000 after purchasing an additional 357,907 shares in the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in Alaska Air Group in the 2nd quarter valued at $11,475,000. Finally, Russell Investments Group Ltd. lifted its holdings in Alaska Air Group by 35.0% in the 1st quarter. Russell Investments Group Ltd. now owns 862,376 shares of the transportation company’s stock valued at $37,074,000 after purchasing an additional 223,725 shares in 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.