Alaska Air Group (NYSE:ALK) Given New $74.00 Price Target at Citigroup

Alaska Air Group (NYSE:ALK) had its target price upped by Citigroup from $63.00 to $74.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

A number of other analysts have also recently weighed in on the stock. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Monday, October 28th. Melius upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Monday, October 28th. Evercore ISI reduced their price objective on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. TD Cowen raised their target price on Alaska Air Group from $68.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, UBS Group reaffirmed a “buy” rating and set a $72.00 target price on shares of Alaska Air Group in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $65.86.

Alaska Air Group Trading Down 1.2 %

NYSE ALK opened at $62.44 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. Alaska Air Group has a one year low of $32.62 and a one year high of $65.62. The company has a 50-day simple moving average of $51.73 and a 200-day simple moving average of $43.47. The firm has a market capitalization of $7.93 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, October 31st. The transportation company reported $2.25 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 during the quarter, compared to analyst estimates of $3 billion. During the same period in the prior year, the company earned $1.83 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. On average, equities analysts forecast that Alaska Air Group will post 4.3 earnings per share for the current year.

Insider Transactions at Alaska Air Group

In related news, SVP Andrea L. Schneider sold 3,700 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $63.50, for a total value of $234,950.00. Following the completion of the transaction, the senior vice president now owns 21,086 shares in the company, valued at $1,338,961. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Shane R. Tackett sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total value of $317,800.00. Following the sale, the chief financial officer now owns 27,362 shares in the company, valued at approximately $1,739,128.72. The trade was a 15.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,019 shares of company stock valued at $1,911,945 in the last quarter. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Verdence Capital Advisors LLC lifted its position in shares of Alaska Air Group by 2.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company’s stock valued at $460,000 after acquiring an additional 215 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Alaska Air Group by 2.7% in the third quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock valued at $419,000 after purchasing an additional 242 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Alaska Air Group by 4.7% in the third quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock worth $268,000 after buying an additional 267 shares during the period. Coastwise Capital Group LLC grew its holdings in shares of Alaska Air Group by 6.0% during the third quarter. Coastwise Capital Group LLC now owns 5,354 shares of the transportation company’s stock valued at $242,000 after buying an additional 304 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in Alaska Air Group by 3.7% during the third quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock valued at $397,000 after buying an additional 309 shares during the period. 81.90% of the stock is owned by hedge funds and other 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.