Analysts Set Alaska Air Group, Inc. (NYSE:ALK) Price Target at $69.73

Shares of Alaska Air Group, Inc. (NYSE:ALK) have received a consensus recommendation of “Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $69.7273.

ALK has been the subject of a number of analyst reports. Susquehanna set a $58.00 price objective on shares of Alaska Air Group and gave the company a “positive” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of Alaska Air Group from $73.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Alaska Air Group in a research report on Monday, December 22nd. Wall Street Zen cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, TD Cowen boosted their target price on shares of Alaska Air Group from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, November 3rd.

Alaska Air Group Stock Performance

ALK opened at $51.46 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 1.12. The firm has a market cap of $5.97 billion, a PE ratio of 41.50, a P/E/G ratio of 1.17 and a beta of 1.24. The business has a fifty day simple moving average of $45.39 and a 200-day simple moving average of $50.70. Alaska Air Group has a fifty-two week low of $37.63 and a fifty-two week high of $78.08.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 23rd. The transportation company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.06). Alaska Air Group had a return on equity of 8.93% and a net margin of 1.06%.The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the firm earned $2.25 earnings per share. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, equities analysts predict that Alaska Air Group will post 6.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds have recently bought and sold shares of the business. Ellis Investment Partners LLC grew its stake in Alaska Air Group by 0.5% during the 3rd quarter. Ellis Investment Partners LLC now owns 40,885 shares of the transportation company’s stock valued at $2,035,000 after acquiring an additional 212 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Alaska Air Group by 7.8% during the second quarter. Signaturefd LLC now owns 3,113 shares of the transportation company’s stock worth $154,000 after purchasing an additional 225 shares during the period. Concurrent Investment Advisors LLC grew its position in Alaska Air Group by 3.3% during the second quarter. Concurrent Investment Advisors LLC now owns 7,237 shares of the transportation company’s stock valued at $358,000 after purchasing an additional 232 shares in the last quarter. True Wealth Design LLC increased its stake in Alaska Air Group by 19.9% in the 3rd quarter. True Wealth Design LLC now owns 1,397 shares of the transportation company’s stock valued at $70,000 after buying an additional 232 shares during the period. Finally, Lesa Sroufe & Co lifted its position in Alaska Air Group by 0.7% in the 3rd quarter. Lesa Sroufe & Co now owns 36,589 shares of the transportation company’s stock worth $1,821,000 after buying an additional 242 shares in the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

Alaska Air Group Company Profile

Alaska Air Group is a publicly traded holding company headquartered in Seattle, Washington, that operates two main airlines—Alaska Airlines and Horizon Air. Through these carriers, the company offers scheduled passenger and cargo services across a network spanning the United States, Canada and Mexico. Its core business activities include domestic and international air transportation, loyalty program management under the Mileage Plan brand, and ancillary revenue streams such as baggage fees, in-flight sales and code-share partnerships with other global airlines.

The roots of Alaska Air Group trace back to the foundation of its flagship carrier, Alaska Airlines, in 1932.