Alaska Air Group, Inc. (NYSE:ALK) Receives $57.44 Average Price Target from Brokerages

by · The Markets Daily

Alaska Air Group, Inc. (NYSE:ALK – Get Free Report) has been assigned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $57.44.

A number of research analysts have recently commented on ALK shares. Evercore ISI increased their price target on Alaska Air Group from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft raised Alaska Air Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $44.00 to $51.00 in a research report on Tuesday, February 20th. TD Cowen raised their target price on Alaska Air Group from $41.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. StockNews.com lowered Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Finally, UBS Group started coverage on Alaska Air Group in a research report on Wednesday, March 20th. They set a “buy” rating and a $54.00 target price for the company.

Read Our Latest Analysis on Alaska Air Group

Alaska Air Group Stock Down 3.2 %

Shares of ALK opened at $41.30 on Tuesday. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $57.18. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 0.87 and a beta of 1.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.58 and a current ratio of 0.61. The stock has a fifty day moving average of $39.01 and a 200-day moving average of $37.02.

Alaska Air Group (NYSE:ALK – Get Free Report) last announced its quarterly earnings results on Thursday, January 25th. The transportation company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.12. Alaska Air Group had a return on equity of 14.72% and a net margin of 2.25%. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the company earned $0.92 EPS. Alaska Air Group’s revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alaska Air Group will post 4.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alaska Air Group news, EVP Andrew R. Harrison sold 6,500 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the sale, the executive vice president now directly owns 26,048 shares in the company, valued at approximately $999,201.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Alaska Air Group

Several large investors have recently made changes to their positions in ALK. Point72 Asset Management L.P. grew its stake in shares of Alaska Air Group by 607.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,177,794 shares of the transportation company’s stock valued at $115,815,000 after buying an additional 1,870,094 shares during the period. Boston Partners grew its stake in shares of Alaska Air Group by 64.6% in the 4th quarter. Boston Partners now owns 3,811,191 shares of the transportation company’s stock valued at $148,861,000 after buying an additional 1,495,311 shares during the period. Clearbridge Investments LLC acquired a new position in Alaska Air Group during the 1st quarter valued at about $62,390,000. Wellington Management Group LLP acquired a new position in Alaska Air Group during the 1st quarter valued at about $30,293,000. Finally, Norges Bank acquired a new position in Alaska Air Group during the 4th quarter valued at about $30,980,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

About Alaska Air Group

(Get Free Report

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.

Featured Articles