Alaska Air Group (NYSE:ALK) Price Target Raised to $55.00

Alaska Air Group (NYSE:ALK) had its target price boosted by Bank of America from $50.00 to $55.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

Other analysts also recently issued reports about the stock. Morgan Stanley cut their price objective on shares of Alaska Air Group from $75.00 to $70.00 and set an overweight rating on the stock in a research report on Monday, July 22nd. Wolfe Research raised shares of Alaska Air Group from a peer perform rating to an outperform rating and set a $55.00 price target for the company in a research report on Friday, May 17th. Susquehanna decreased their price target on Alaska Air Group from $42.00 to $41.00 and set a neutral rating for the company in a research note on Tuesday, July 16th. Citigroup lowered their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a buy rating on the stock in a research report on Thursday, August 29th. Finally, TD Cowen raised their target price on Alaska Air Group from $51.00 to $52.00 and gave the stock a buy rating in a research report on Friday. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $54.00.

Alaska Air Group Stock Performance

Shares of ALK opened at $41.35 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The stock has a market cap of $5.25 billion, a P/E ratio of 22.11, a P/E/G ratio of 0.60 and a beta of 1.59. The business’s 50 day moving average price is $36.94 and its 200-day moving average price is $39.84. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $46.15.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.19. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the business earned $3.00 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Alaska Air Group will post 4.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Alaska Air Group in the 2nd quarter valued at $189,000. American Trust grew its position in shares of Alaska Air Group by 17.3% during the second quarter. American Trust now owns 6,562 shares of the transportation company’s stock valued at $265,000 after purchasing an additional 966 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Alaska Air Group by 8.0% in the second quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock worth $119,960,000 after purchasing an additional 220,030 shares during the last quarter. Creative Planning lifted its position in shares of Alaska Air Group by 5.2% in the second quarter. Creative Planning now owns 51,529 shares of the transportation company’s stock worth $2,082,000 after buying an additional 2,538 shares in the last quarter. Finally, MidWestOne Financial Group Inc. boosted its stake in Alaska Air Group by 3.5% during the second quarter. MidWestOne Financial Group Inc. now owns 32,887 shares of the transportation company’s stock valued at $1,329,000 after buying an additional 1,097 shares during the last quarter. Hedge funds and other institutional investors 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.