Alaska Air Group, Inc. (NYSE:ALK) Receives $64.00 Consensus Target Price from Brokerages

Shares of Alaska Air Group, Inc. (NYSE:ALK) have been given a consensus rating of “Moderate Buy” by the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $65.86.

Several research analysts have commented on the company. Barclays lifted their target price on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Morgan Stanley lifted their price objective on Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Susquehanna increased their target price on shares of Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group restated a “buy” rating and issued a $70.00 price target on shares of Alaska Air Group in a research report on Friday, November 15th. Finally, 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.

Insider Activity

In other Alaska Air Group news, SVP Andrea L. Schneider sold 800 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $63.89, for a total transaction of $51,112.00. Following the completion of the sale, the senior vice president now owns 20,286 shares in the company, valued at approximately $1,296,072.54. The trade was a 3.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph A. Sprague sold 2,325 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $64.38, for a total transaction of $149,683.50. Following the completion of the transaction, the chief executive officer now directly owns 19,340 shares in the company, valued at $1,245,109.20. This trade represents a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,473 shares of company stock worth $2,198,342. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

Several hedge funds and other institutional investors have recently made changes to their positions in ALK. Altshuler Shaham Ltd bought a new position in Alaska Air Group in the 2nd quarter valued at about $28,000. Pacific Center for Financial Services bought a new position in shares of Alaska Air Group in the third quarter valued at approximately $45,000. Venturi Wealth Management LLC boosted its position in shares of Alaska Air Group by 86.0% during the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after buying an additional 474 shares during the last quarter. Pacifica Partners Inc. grew its holdings 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 worth $50,000 after buying an additional 1,000 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in Alaska Air Group in the 3rd quarter valued at $52,000. 81.90% of the stock is owned by institutional investors.

Alaska Air Group Stock Performance

Alaska Air Group stock opened at $64.97 on Friday. The business has a 50 day moving average of $52.17 and a 200-day moving average of $43.62. The company has a market capitalization of $8.25 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.24 and a beta of 1.60. Alaska Air Group has a 1 year low of $32.62 and a 1 year high of $65.62. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57.

Alaska Air Group (NYSE:ALK) last announced its quarterly 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. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 EPS. On average, equities research analysts predict that Alaska Air Group will post 4.3 earnings per share for the current year.

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.