Alaska Air Group (NYSE:ALK) Coverage Initiated at Barclays

Barclays assumed coverage on shares of Alaska Air Group (NYSE:ALK) in a report published on Monday morning, Marketbeat.com reports. The firm issued an overweight rating and a $55.00 target price on the transportation company’s stock.

ALK has been the topic of several other research reports. Morgan Stanley cut their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Susquehanna lifted their target price on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI cut their target price on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, October 3rd. Bank of America lifted their target price on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, TD Cowen cut their target price 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. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.80.

Alaska Air Group Stock Performance

Shares of Alaska Air Group stock opened at $45.83 on Monday. The firm has a market cap of $5.82 billion, a P/E ratio of 24.59, a P/E/G ratio of 0.66 and a beta of 1.60. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. Alaska Air Group has a 12 month low of $30.75 and a 12 month high of $46.87. The stock’s fifty day moving average price is $40.29 and its 200-day moving average price is $40.57.

Institutional Investors Weigh In On Alaska Air Group

Several institutional investors have recently added to or reduced their stakes in ALK. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Alaska Air Group by 145.4% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 27,003 shares of the transportation company’s stock worth $1,055,000 after purchasing an additional 16,000 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of Alaska Air Group by 0.3% during the first quarter. Gateway Investment Advisers LLC now owns 153,403 shares of the transportation company’s stock worth $6,595,000 after purchasing an additional 391 shares during the period. ARGA Investment Management LP acquired a new stake in shares of Alaska Air Group during the first quarter worth about $9,654,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Alaska Air Group during the first quarter worth about $217,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Alaska Air Group during the first quarter worth about $499,000. Institutional investors and hedge funds 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.