The Goldman Sachs Group Reaffirms “Buy” Rating for Alaska Air Group (NYSE:ALK)

The Goldman Sachs Group reaffirmed their buy rating on shares of Alaska Air Group (NYSE:ALK) in a research report sent to investors on Friday, Marketbeat reports. They currently have a $70.00 price target on the transportation company’s stock.

Several other equities analysts have also recently weighed in on ALK. Citigroup lowered their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Barclays lifted their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday. Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Monday, October 28th. 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. Finally, Morgan Stanley cut their price target on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.31.

Alaska Air Group Trading Up 2.0 %

Shares of ALK opened at $53.96 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. Alaska Air Group has a 1-year low of $32.00 and a 1-year high of $54.01. The stock has a market capitalization of $6.85 billion, a P/E ratio of 21.76, a P/E/G ratio of 1.22 and a beta of 1.59. The business’s 50-day moving average price is $45.18 and its 200 day moving average price is $41.33.

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

Hedge Funds Weigh In On Alaska Air Group

A number of institutional investors have recently made changes to their positions in the business. Interval Partners LP grew its holdings in Alaska Air Group by 100.0% in the 1st quarter. Interval Partners LP now owns 80,000 shares of the transportation company’s stock valued at $3,439,000 after buying an additional 40,000 shares during the last quarter. Capital Research Global Investors acquired a new position in Alaska Air Group during the 1st quarter valued at $36,993,000. Raymond James & Associates boosted its holdings in Alaska Air Group by 13.5% in the 2nd quarter. Raymond James & Associates now owns 283,581 shares of the transportation company’s stock valued at $11,457,000 after purchasing an additional 33,717 shares during the period. Boston Partners boosted its holdings in Alaska Air Group by 4.1% in the 1st quarter. Boston Partners now owns 3,966,594 shares of the transportation company’s stock valued at $170,533,000 after purchasing an additional 155,403 shares during the period. Finally, Comerica Bank increased its holdings in shares of Alaska Air Group by 88.0% during the 1st quarter. Comerica Bank now owns 174,178 shares of the transportation company’s stock worth $7,488,000 after purchasing an additional 81,533 shares during the period. 81.90% of the stock is currently owned by institutional investors.

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.