UBS Group Reaffirms “Buy” Rating for Alaska Air Group (NYSE:ALK)

Alaska Air Group (NYSE:ALK)‘s stock had its “buy” rating reissued by equities research analysts at UBS Group in a research note issued on Tuesday,Benzinga reports. They currently have a $72.00 price objective on the transportation company’s stock. UBS Group’s price objective indicates a potential upside of 34.65% from the stock’s current price.

A number of other equities analysts also recently issued reports on ALK. The Goldman Sachs Group reiterated a “buy” rating and set a $70.00 price objective on shares of Alaska Air Group in a research note on Friday, November 15th. Citigroup dropped their target price on 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. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, October 28th. Barclays upped their price objective on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Evercore ISI cut 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alaska Air Group presently has an average rating of “Moderate Buy” and a consensus price target of $58.69.

Alaska Air Group Price Performance

Shares of ALK stock opened at $53.47 on Tuesday. Alaska Air Group has a twelve month low of $32.00 and a twelve month high of $54.01. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. The stock has a fifty day simple moving average of $46.68 and a two-hundred day simple moving average of $41.74. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 1.19 and a beta of 1.59.

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

Hedge Funds Weigh In On Alaska Air Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALK. Altshuler Shaham Ltd purchased a new position in Alaska Air Group during the 2nd quarter worth approximately $28,000. Pacific Center for Financial Services purchased a new position in shares of Alaska Air Group during the third quarter worth $45,000. Venturi Wealth Management LLC lifted its position in Alaska Air Group by 86.0% during the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 474 shares during the period. Pacifica Partners Inc. boosted its holdings in Alaska Air Group by 952.4% in the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 1,000 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in Alaska Air Group during the 3rd quarter worth about $52,000. 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.