Alaska Air Group (NYSE:ALK) Price Target Raised to $110.00

Alaska Air Group (NYSE:ALK) had its price objective boosted by TD Cowen from $85.00 to $110.00 in a research note issued to investors on Friday morning, Marketbeat reports. They currently have a buy rating on the transportation company’s stock.

ALK has been the topic of a number of other research reports. 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 report on Wednesday, December 11th. Barclays lifted their price objective on Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Evercore ISI lowered 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 raised Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price objective on the stock in a report on Tuesday, January 7th. Finally, Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.86.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $69.90 on Friday. The stock has a market capitalization of $8.87 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54. Alaska Air Group has a 52-week low of $32.62 and a 52-week high of $71.70. The stock’s 50-day moving average price is $61.76 and its 200 day moving average price is $48.28. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.78% and a net margin of 3.37%. As a group, equities research analysts forecast that Alaska Air Group will post 6.03 EPS for the current year.

Insider Transactions at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 13,880 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $64.01, for a total transaction of $888,458.80. Following the completion of the sale, the executive vice president now directly owns 20,638 shares in the company, valued at $1,321,038.38. This represents a 40.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Emily Halverson sold 1,329 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $64.41, for a total transaction of $85,600.89. Following the sale, the vice president now directly owns 7,150 shares of the company’s stock, valued at approximately $460,531.50. This trade represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,473 shares of company stock worth $2,198,342 in the last ninety days. Insiders own 0.68% of the company’s stock.

Institutional Trading of Alaska Air Group

Institutional investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC boosted its position in Alaska Air Group by 44.8% during the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock worth $38,000 after purchasing an additional 182 shares during the period. Pacific Center for Financial Services purchased a new stake in Alaska Air Group during the 3rd quarter worth $45,000. Venturi Wealth Management LLC boosted 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 worth $46,000 after purchasing an additional 474 shares during the period. Pacifica Partners Inc. boosted its position 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 worth $50,000 after purchasing an additional 1,000 shares during the period. Finally, True Wealth Design LLC purchased a new position in Alaska Air Group in the 3rd quarter valued at about $52,000. 81.90% of the stock is 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.