UBS Group Issues Positive Forecast for Alaska Air Group (NYSE:ALK) Stock Price

Alaska Air Group (NYSE:ALKFree Report) had its price target upped by UBS Group from $81.00 to $82.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

A number of other equities research analysts also recently weighed in on ALK. Barclays raised their price objective on Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Morgan Stanley raised their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Melius Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Monday, October 28th. Evercore ISI lowered their target price on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Finally, Citigroup lifted their price target on shares of Alaska Air Group from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, December 16th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.14.

Read Our Latest Analysis on Alaska Air Group

Alaska Air Group Trading Up 1.6 %

NYSE:ALK opened at $65.41 on Tuesday. The firm has a 50-day simple moving average of $57.35 and a 200-day simple moving average of $45.90. Alaska Air Group has a one year low of $32.62 and a one year high of $67.73. The firm has a market cap of $8.30 billion, a P/E ratio of 26.38, a P/E/G ratio of 1.24 and a beta of 1.54. 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 (NYSE:ALKGet Free Report) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. Alaska Air Group’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.83 earnings per share. Equities analysts anticipate that Alaska Air Group will post 4.3 EPS for the current fiscal year.

Insider Activity

In other Alaska Air Group news, EVP Andrew R. Harrison sold 13,880 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $64.01, for a total value of $888,458.80. Following the sale, the executive vice president now directly owns 20,638 shares of the company’s stock, valued at approximately $1,321,038.38. This represents a 40.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph A. Sprague sold 2,325 shares of Alaska Air Group stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $64.38, for a total value of $149,683.50. Following the transaction, the chief executive officer now owns 19,340 shares of the company’s stock, valued at $1,245,109.20. The trade was a 10.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,473 shares of company stock valued at $2,198,342. Company insiders own 0.92% of the company’s stock.

Institutional Trading of Alaska Air Group

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its holdings in Alaska Air Group by 2,087.8% in the third quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock valued at $34,490,000 after acquiring an additional 728,019 shares during the period. Wellington Management Group LLP purchased a new position in shares of Alaska Air Group during the 3rd quarter valued at approximately $26,390,000. Charles Schwab Investment Management Inc. boosted its holdings in Alaska Air Group by 45.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock worth $64,300,000 after buying an additional 442,331 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Alaska Air Group by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock worth $262,789,000 after buying an additional 357,907 shares in the last quarter. Finally, FMR LLC grew its position in Alaska Air Group by 32.4% during the third quarter. FMR LLC now owns 1,084,639 shares of the transportation company’s stock valued at $49,037,000 after buying an additional 265,343 shares during the period. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Alaska Air Group Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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