Barclays Initiates Coverage on Alaska Air Group (NYSE:ALK)

Barclays began coverage on shares of Alaska Air Group (NYSE:ALK) in a research report report published on Monday, Marketbeat reports. The firm issued an overweight rating and a $55.00 price target on the transportation company’s stock.

Other equities analysts have also issued research reports about the company. Evercore ISI reduced their target price on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Susquehanna lifted their price objective on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Bank of America lifted their price objective on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, September 13th. TD Cowen reduced their price objective on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, Morgan Stanley reduced their price objective 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. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Alaska Air Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $45.60 on Monday. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 0.66 and a beta of 1.60. 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 business has a fifty day moving average of $40.71 and a 200 day moving average of $40.64. Alaska Air Group has a 1 year low of $30.75 and a 1 year high of $46.87.

Institutional Investors Weigh In On Alaska Air Group

A number of institutional investors have recently modified their holdings of the business. Gateway Investment Advisers LLC grew its position in shares of Alaska Air Group by 0.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 153,403 shares of the transportation company’s stock valued at $6,595,000 after acquiring an additional 391 shares during the period. QRG Capital Management Inc. grew its position in shares of Alaska Air Group by 4.7% during the 2nd quarter. QRG Capital Management Inc. now owns 9,029 shares of the transportation company’s stock valued at $365,000 after acquiring an additional 406 shares during the period. William Blair Investment Management LLC grew its position in shares of Alaska Air Group by 4.0% during the 1st quarter. William Blair Investment Management LLC now owns 11,470 shares of the transportation company’s stock valued at $493,000 after acquiring an additional 436 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Alaska Air Group by 5.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,063 shares of the transportation company’s stock valued at $326,000 after acquiring an additional 439 shares during the period. Finally, Swiss National Bank boosted its holdings in Alaska Air Group by 0.8% in the 1st quarter. Swiss National Bank now owns 63,200 shares of the transportation company’s stock worth $2,717,000 after buying an additional 500 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.