Alaska Air Group, Inc. (NYSE:ALK) Receives $54.00 Consensus Target Price from Analysts

Shares of Alaska Air Group, Inc. (NYSE:ALK) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $53.20.

ALK has been the subject of several analyst reports. TD Cowen dropped their price target on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Bank of America upped their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Susquehanna cut their target price on 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. Citigroup lowered their price target on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Evercore ISI cut their price objective on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd.

Alaska Air Group Stock Up 0.1 %

Shares of NYSE ALK opened at $42.54 on Tuesday. The business has a 50-day moving average of $38.17 and a 200-day moving average of $40.33. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 0.54 and a beta of 1.60. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. Alaska Air Group has a 12 month low of $30.75 and a 12 month high of $46.15.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the firm earned $3.00 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Alaska Air Group will post 4.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALK. Altshuler Shaham Ltd bought a new position in shares of Alaska Air Group during the second quarter valued at $28,000. Pacifica Partners Inc. lifted its position in 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 purchasing an additional 1,000 shares during the period. LifeSteps Financial Inc. purchased a new stake in Alaska Air Group in the first quarter worth approximately $65,000. Parallel Advisors LLC grew its position in Alaska Air Group by 28.4% in 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 period. Finally, Canada Pension Plan Investment Board purchased a new stake in Alaska Air Group during the 2nd quarter valued at $69,000. Institutional investors own 81.90% of the company’s stock.

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.