Bank of America Increases Alaska Air Group (NYSE:ALK) Price Target 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 note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

ALK has been the subject of a number of other reports. Susquehanna cut their price target on Alaska Air Group from $42.00 to $41.00 and set a neutral rating for the company in a report on Tuesday, July 16th. Citigroup decreased 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. TD Cowen lifted their target price on shares of Alaska Air Group from $51.00 to $52.00 and gave the company a buy rating in a research report on Friday. Wolfe Research raised shares of Alaska Air Group from a peer perform rating to an outperform rating and set a $55.00 price target on the stock in a report on Friday, May 17th. Finally, Morgan Stanley lowered 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. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $54.00.

Alaska Air Group Stock Down 0.7 %

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

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

Institutional Trading of Alaska Air Group

Several hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new stake in Alaska Air Group in the second quarter valued at approximately $28,000. Principal Securities Inc. bought a new position in shares of Alaska Air Group during the fourth quarter valued at about $39,000. LifeSteps Financial Inc. purchased a new stake in shares of Alaska Air Group during the first quarter worth about $65,000. Parallel Advisors LLC grew its stake in shares of Alaska Air Group by 28.4% in the fourth quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock worth $66,000 after purchasing an additional 373 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Alaska Air Group during the 2nd quarter valued at about $69,000. 81.90% of the stock is owned by institutional investors.

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.