Barclays Increases Alaska Air Group (NYSE:ALK) Price Target to $80.00

Alaska Air Group (NYSE:ALK) had its price objective upped by investment analysts at Barclays from $55.00 to $80.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. Barclays‘s price objective suggests a potential upside of 50.12% from the stock’s previous close.

A number of other research firms also recently commented on ALK. Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Monday, October 28th. Evercore ISI cut their price objective on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Susquehanna boosted 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. Melius Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Monday, October 28th. Finally, Bank of America boosted 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. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.25.

Alaska Air Group Trading Up 3.1 %

NYSE ALK traded up $1.62 during trading hours on Thursday, hitting $53.29. 1,166,235 shares of the company’s stock were exchanged, compared to its average volume of 2,266,158. The business’s 50 day moving average is $44.55 and its 200-day moving average is $41.20. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. Alaska Air Group has a 12-month low of $32.00 and a 12-month high of $53.67. The firm has a market capitalization of $6.76 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 1.16 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the company earned $1.83 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, analysts anticipate that Alaska Air Group will post 4.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors acquired a new stake in shares of Alaska Air Group during the first quarter worth approximately $36,993,000. Assenagon Asset Management S.A. grew its holdings in Alaska Air Group by 2,087.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock worth $34,490,000 after acquiring an additional 728,019 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Alaska Air Group by 45.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock worth $64,300,000 after purchasing an additional 442,331 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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. Finally, Mesirow Institutional Investment Management Inc. bought a new position in shares of Alaska Air Group during the second quarter worth about $11,475,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

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.