Analysts Set Alaska Air Group, Inc. (NYSE:ALK) Target Price at $57.85

Shares of Alaska Air Group, Inc. (NYSE:ALK) have received a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $56.75.

ALK has been the topic of a number of research reports. TD Cowen raised their target price on shares of Alaska Air Group from $49.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. UBS Group initiated coverage on shares of Alaska Air Group in a research report on Wednesday, March 20th. They set a “buy” rating and a $54.00 price objective on the stock. Susquehanna upped their target price on shares of Alaska Air Group from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Bank of America raised their price target on Alaska Air Group from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, StockNews.com raised Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Friday, April 19th.

Alaska Air Group Stock Performance

NYSE ALK opened at $43.31 on Friday. The company has a fifty day moving average of $41.15 and a two-hundred day moving average of $38.11. The company has a market capitalization of $5.50 billion, a PE ratio of 23.16, a P/E/G ratio of 0.57 and a beta of 1.60. Alaska Air Group has a 1 year low of $30.75 and a 1 year high of $57.18. 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 posted its earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, beating the consensus estimate 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 return on equity of 13.54% and a net margin of 2.34%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.62) EPS. As a group, analysts expect that Alaska Air Group will post 4.68 earnings per share for the current year.

Insider Activity at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 6,500 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total value of $249,340.00. Following the completion of the transaction, the executive vice president now owns 26,048 shares in the company, valued at $999,201.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its holdings in Alaska Air Group by 6.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 143,191 shares of the transportation company’s stock worth $6,008,000 after purchasing an additional 8,772 shares during the last quarter. Entropy Technologies LP increased its position in shares of Alaska Air Group by 113.4% in the first quarter. Entropy Technologies LP now owns 28,279 shares of the transportation company’s stock valued at $1,216,000 after buying an additional 15,027 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Alaska Air Group by 4.0% during the 1st quarter. William Blair Investment Management LLC now owns 11,470 shares of the transportation company’s stock worth $493,000 after buying an additional 436 shares during the last quarter. Motley Fool Asset Management LLC purchased a new stake in shares of Alaska Air Group in the 1st quarter worth about $336,000. Finally, Russell Investments Group Ltd. increased its holdings in Alaska Air Group by 35.0% during the 1st quarter. Russell Investments Group Ltd. now owns 862,376 shares of the transportation company’s stock valued at $37,074,000 after acquiring an additional 223,725 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.