Barclays Increases Alaska Air Group (NYSE:ALK) Price Target to $80.00

Alaska Air Group (NYSE:ALK) had its target price lifted by Barclays from $55.00 to $80.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other brokerages have also recently weighed in on ALK. Melius Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Monday, October 28th. Melius upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Monday, October 28th. Susquehanna boosted their price target on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. TD Cowen decreased their price objective on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Evercore ISI lowered 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. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Alaska Air Group presently has a consensus rating of “Moderate Buy” and an average target price of $57.31.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $53.96 on Thursday. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.22 and a beta of 1.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. Alaska Air Group has a 1 year low of $32.00 and a 1 year high of $54.01. The stock’s 50-day moving average is $45.18 and its two-hundred day moving average is $41.33.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.83 earnings per share. Analysts predict that Alaska Air Group will post 4.26 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of Alaska Air Group by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company’s stock worth $93,229,000 after purchasing an additional 78,186 shares in the last quarter. Barclays PLC boosted its holdings in Alaska Air Group by 1.8% during the third quarter. Barclays PLC now owns 1,058,564 shares of the transportation company’s stock worth $47,857,000 after buying an additional 18,233 shares in the last quarter. Pacific Center for Financial Services acquired a new position in Alaska Air Group during the third quarter worth about $45,000. XTX Topco Ltd increased its holdings in Alaska Air Group by 39.7% in the third quarter. XTX Topco Ltd now owns 16,907 shares of the transportation company’s stock valued at $764,000 after buying an additional 4,807 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Alaska Air Group during the 3rd quarter valued at approximately $26,390,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

About Alaska Air Group

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.