The Goldman Sachs Group Reaffirms Buy Rating for Alaska Air Group (NYSE:ALK)

Alaska Air Group (NYSE:ALK)‘s stock had its “buy” rating reaffirmed by stock analysts at The Goldman Sachs Group in a note issued to investors on Friday,Benzinga reports. They presently have a $70.00 target price on the transportation company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 32.38% from the company’s previous close.

A number of other brokerages have also weighed in on ALK. Bank of America raised their price objective on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Evercore ISI cut their price target on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Morgan Stanley decreased their price objective on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, October 28th. Finally, TD Cowen reduced their price target on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Alaska Air Group presently has an average rating of “Moderate Buy” and a consensus target price of $57.31.

Alaska Air Group Price Performance

NYSE:ALK opened at $52.88 on Friday. The business’s 50-day simple moving average is $44.85 and its two-hundred day simple moving average is $41.28. Alaska Air Group has a 52 week low of $32.00 and a 52 week high of $53.67. The stock has a market cap of $6.71 billion, a PE ratio of 21.32, a P/E/G ratio of 1.17 and a beta of 1.59. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the company earned $1.83 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, analysts forecast that Alaska Air Group will post 4.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Alaska Air Group

Hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new position in Alaska Air Group during the 2nd quarter worth $28,000. Venturi Wealth Management LLC grew its position in shares of Alaska Air Group by 86.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after buying an additional 474 shares in the last quarter. Pacifica Partners Inc. increased its stake in shares of Alaska Air Group by 952.4% during the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after buying an additional 1,000 shares during the period. True Wealth Design LLC bought a new stake in shares of Alaska Air Group in the third quarter valued at about $52,000. Finally, Capital Performance Advisors LLP purchased a new stake in Alaska Air Group in the third quarter worth about $67,000. 81.90% of the stock is currently owned by institutional investors.

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.