JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Alaska Air Group (NYSE:ALK) Stock

Alaska Air Group (NYSE:ALK) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $58.00 to $85.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 34.03% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Citigroup reduced their target price on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a report 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 report on Thursday, October 3rd. Barclays upped their price target on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Morgan Stanley lifted their price objective on Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group restated a “buy” rating and set a $70.00 target price on shares of Alaska Air Group in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Alaska Air Group Trading Down 1.0 %

Shares of NYSE ALK opened at $63.42 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $8.05 billion, a PE ratio of 25.57, a PEG ratio of 1.23 and a beta of 1.60. Alaska Air Group has a twelve month low of $32.62 and a twelve month high of $65.62. The stock has a fifty day simple moving average of $50.11 and a 200-day simple moving average of $42.87.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.03. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. Alaska Air Group’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 EPS. On average, equities analysts forecast that Alaska Air Group will post 4.26 earnings per share for the current year.

Insider Transactions at Alaska Air Group

In other Alaska Air Group news, CFO Shane R. Tackett sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total value of $317,800.00. Following the completion of the sale, the chief financial officer now owns 27,362 shares in the company, valued at approximately $1,739,128.72. The trade was a 15.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrea L. Schneider sold 3,700 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $63.50, for a total value of $234,950.00. Following the completion of the sale, the senior vice president now directly owns 21,086 shares of the company’s stock, valued at $1,338,961. The trade was a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,580 shares of company stock worth $1,441,209. 0.68% of the stock is currently owned by insiders.

Institutional Trading of Alaska Air Group

Large investors have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new position in Alaska Air Group in the second quarter valued at $28,000. Pacific Center for Financial Services purchased a new position in shares of Alaska Air Group during the third quarter worth about $45,000. Venturi Wealth Management LLC increased its position in Alaska Air Group by 86.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after acquiring an additional 474 shares during the period. Pacifica Partners Inc. raised its stake in Alaska Air Group by 952.4% during the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 1,000 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in Alaska Air Group during the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Company Profile

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.