Alaska Air Group (NYSE:ALK) Stock Rating Upgraded by Melius Research

Melius Research upgraded shares of Alaska Air Group (NYSE:ALK) from a hold rating to a buy rating in a research note published on Monday, Marketbeat reports. The firm currently has $56.00 price objective on the transportation company’s stock.

A number of other brokerages have also recently issued reports on ALK. Bank of America boosted their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 13th. TD Cowen lowered their price objective on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Citigroup dropped their price objective 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. Evercore ISI decreased their target price on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Finally, Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Monday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.17.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $47.89 on Monday. 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 capitalization of $6.08 billion, a P/E ratio of 25.61, a PEG ratio of 0.66 and a beta of 1.60. The business has a 50-day moving average of $41.92 and a 200-day moving average of $40.80. Alaska Air Group has a 1 year low of $30.75 and a 1 year high of $50.16.

Institutional Trading of Alaska Air Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. QRG Capital Management Inc. raised its stake in shares of Alaska Air Group by 2.7% during the 3rd quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock worth $419,000 after purchasing an additional 242 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in Alaska Air Group by 4.7% during the third quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock worth $268,000 after buying an additional 267 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in Alaska Air Group by 3.7% during the third quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock worth $397,000 after acquiring an additional 309 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Alaska Air Group by 4.0% in the first quarter. William Blair Investment Management LLC now owns 11,470 shares of the transportation company’s stock valued at $493,000 after acquiring an additional 436 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Alaska Air Group by 5.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,063 shares of the transportation company’s stock valued at $326,000 after acquiring an additional 439 shares during the period. Institutional investors 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.