Alaska Air Group, Inc. (NYSE:ALK) Receives $57.85 Consensus Price Target from Brokerages

Shares of Alaska Air Group, Inc. (NYSE:ALK) have been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $57.85.

Several equities research analysts recently weighed in on ALK shares. TD Cowen increased their target price on shares of Alaska Air Group from $49.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Susquehanna lifted their price objective on Alaska Air Group from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Melius lowered Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Evercore ISI lifted their price target on shares of Alaska Air Group from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $44.00 to $51.00 in a report on Tuesday, February 20th.

Insider Transactions at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 6,500 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $999,201.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alaska Air Group

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in shares of Alaska Air Group by 44.4% during the third quarter. SG Americas Securities LLC now owns 15,945 shares of the transportation company’s stock valued at $591,000 after acquiring an additional 4,906 shares during the period. Commonwealth Equity Services LLC lifted its position in Alaska Air Group by 2.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 62,337 shares of the transportation company’s stock valued at $2,311,000 after purchasing an additional 1,597 shares during the period. Xponance Inc. boosted its stake in shares of Alaska Air Group by 10.0% in the 3rd quarter. Xponance Inc. now owns 21,138 shares of the transportation company’s stock valued at $784,000 after purchasing an additional 1,918 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Alaska Air Group by 6.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 283,809 shares of the transportation company’s stock worth $10,524,000 after buying an additional 16,443 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Alaska Air Group by 6.3% during the third quarter. Bank of New York Mellon Corp now owns 1,213,630 shares of the transportation company’s stock worth $45,001,000 after buying an additional 71,726 shares during the last quarter. Institutional investors own 81.90% of the company’s stock.

Alaska Air Group Stock Performance

Shares of NYSE ALK opened at $43.85 on Friday. Alaska Air Group has a 12 month low of $30.75 and a 12 month high of $57.18. The company has a market cap of $5.52 billion, a P/E ratio of 23.45, a P/E/G ratio of 0.57 and a beta of 1.60. The business’s 50 day moving average is $40.83 and its two-hundred day moving average is $37.91. The company has a quick ratio of 0.63, a current ratio of 0.65 and a debt-to-equity ratio of 0.85.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.17. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the firm posted ($0.62) earnings per share. Alaska Air Group’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts expect that Alaska Air Group will post 4.68 EPS for the current year.

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.