TD Cowen Raises Alaska Air Group (NYSE:ALK) Price Target to $52.00

Alaska Air Group (NYSE:ALK) had its price objective upped by TD Cowen from $51.00 to $52.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price would indicate a potential upside of 24.49% from the company’s current price.

A number of other brokerages have also commented on ALK. Morgan Stanley cut their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Citigroup reduced their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Susquehanna lowered their target price on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Finally, Wolfe Research upgraded Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research note on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.09.

Alaska Air Group Stock Performance

Alaska Air Group stock traded up $1.82 during mid-day trading on Friday, reaching $41.77. The company had a trading volume of 1,079,185 shares, compared to its average volume of 2,217,457. The company has a 50 day moving average of $36.81 and a 200-day moving average of $39.76. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $46.15. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 0.60 and a beta of 1.59.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALK. Altshuler Shaham Ltd acquired a new stake in shares of Alaska Air Group in the 2nd quarter valued at $28,000. Principal Securities Inc. bought a new position in Alaska Air Group in the fourth quarter valued at about $39,000. LifeSteps Financial Inc. acquired a new stake in Alaska Air Group in the first quarter worth about $65,000. Parallel Advisors LLC raised its holdings in Alaska Air Group by 28.4% during the 4th 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 acquired a new position in Alaska Air Group during the 2nd quarter valued at about $69,000. 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.