Alaska Air Group (NYSE:ALK) Raised to “Buy” at Melius

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

Other equities analysts also recently issued research reports about the stock. Evercore ISI lowered their target price on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. 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. Morgan Stanley dropped their price target on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. TD Cowen reduced their price objective on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, Citigroup decreased their price objective 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. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alaska Air Group currently has an average rating of “Moderate Buy” and an average price target of $54.17.

Alaska Air Group Stock Up 1.3 %

ALK stock opened at $47.89 on Monday. The business’s 50-day moving average price is $41.92 and its 200-day moving average price is $40.80. The stock has a market cap of $6.08 billion, a P/E ratio of 25.61, a PEG ratio of 0.66 and a beta of 1.60. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. Alaska Air Group has a twelve month low of $30.75 and a twelve month high of $50.16.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Concurrent Investment Advisors LLC grew its stake in Alaska Air Group by 3.7% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock worth $397,000 after buying an additional 309 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Alaska Air Group by 2.7% in the third quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock worth $419,000 after acquiring an additional 242 shares in the last quarter. swisspartners Advisors Ltd grew its stake in shares of Alaska Air Group by 5.4% during the third quarter. swisspartners Advisors Ltd now owns 140,529 shares of the transportation company’s stock worth $6,353,000 after acquiring an additional 7,210 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Alaska Air Group by 15.9% during the third quarter. Farther Finance Advisors LLC now owns 4,460 shares of the transportation company’s stock valued at $202,000 after acquiring an additional 611 shares in the last quarter. Finally, Financial Advocates Investment Management raised its position in shares of Alaska Air Group by 9.3% in the 3rd quarter. Financial Advocates Investment Management now owns 9,735 shares of the transportation company’s stock valued at $440,000 after purchasing an additional 831 shares during the last quarter. Institutional investors 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.