Alaska Air Group (NYSE:ALK) Price Target Raised to $68.00

Alaska Air Group (NYSE:ALK) had its price objective hoisted by analysts at TD Cowen from $50.00 to $68.00 in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price would suggest a potential upside of 29.43% from the stock’s current price.

Several other brokerages have also commented on ALK. Citigroup cut their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Susquehanna lifted their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. The Goldman Sachs Group reissued a “buy” rating and issued a $70.00 target price on shares of Alaska Air Group in a research note on Friday, November 15th. Barclays lifted their price target on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Bank of America increased their price objective on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.08.

Alaska Air Group Trading Down 1.2 %

Shares of ALK opened at $52.54 on Wednesday. Alaska Air Group has a twelve month low of $32.00 and a twelve month high of $54.14. The stock has a market cap of $6.67 billion, a PE ratio of 21.19, a P/E/G ratio of 1.21 and a beta of 1.60. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. The business’s 50-day moving average price is $48.14 and its 200-day moving average price is $42.12.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new position in Alaska Air Group in the second quarter worth $28,000. Pacific Center for Financial Services bought a new position in shares of Alaska Air Group in the 3rd quarter worth about $45,000. Venturi Wealth Management LLC lifted its position in Alaska Air Group by 86.0% during 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. boosted its stake in Alaska Air Group by 952.4% during the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after acquiring an additional 1,000 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in Alaska Air Group in the third quarter worth about $52,000. Hedge funds and other 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.