TD Cowen Raises Alaska Air Group (NYSE:ALK) Price Target to $58.00

Alaska Air Group (NYSE:ALK) had its price target upped by TD Cowen from $49.00 to $58.00 in a report released on Friday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the transportation company’s stock.

A number of other equities analysts also recently commented on the stock. UBS Group assumed coverage on shares of Alaska Air Group in a report on Wednesday, March 20th. They issued a buy rating and a $54.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Alaska Air Group from a hold rating to a buy rating and boosted their target price for the stock from $44.00 to $51.00 in a report on Tuesday, February 20th. Bank of America upped their price objective on shares of Alaska Air Group from $50.00 to $56.00 and gave the company a buy rating in a report on Friday. Susquehanna downgraded shares of Alaska Air Group from a positive rating to a neutral rating and upped their price objective for the company from $39.00 to $40.00 in a report on Wednesday, January 10th. Finally, Melius downgraded shares of Alaska Air Group from a buy rating to a hold rating in a report on Monday, January 8th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $57.85.

Alaska Air Group Stock Up 1.2 %

NYSE:ALK opened at $45.53 on Friday. Alaska Air Group has a 1-year low of $30.75 and a 1-year high of $57.18. The company has a 50-day moving average of $39.84 and a 200 day moving average of $37.31. The firm has a market cap of $5.73 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 0.90 and a beta of 1.63. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.65 and a quick ratio of 0.63.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, April 18th. The transportation company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.17. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.18 billion. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.62) earnings per share. As a group, research analysts anticipate that Alaska Air Group will post 4.41 EPS for the current fiscal year.

Insider Activity

In other news, EVP Andrew R. Harrison sold 6,500 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the transaction, the executive vice president now owns 26,048 shares in the company, valued at approximately $999,201.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CVA Family Office LLC raised its stake in Alaska Air Group by 17.1% in the 1st quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 325 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in Alaska Air Group by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,663 shares of the transportation company’s stock valued at $284,000 after purchasing an additional 327 shares during the last quarter. Aspire Capital Advisors LLC raised its stake in Alaska Air Group by 3.3% in the 3rd quarter. Aspire Capital Advisors LLC now owns 10,847 shares of the transportation company’s stock valued at $402,000 after purchasing an additional 350 shares during the last quarter. Blue Trust Inc. raised its stake in Alaska Air Group by 14.2% in the 4th quarter. Blue Trust Inc. now owns 2,868 shares of the transportation company’s stock valued at $106,000 after purchasing an additional 357 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Alaska Air Group by 2.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,189 shares of the transportation company’s stock valued at $674,000 after purchasing an additional 365 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.