Alaska Air Group (NYSE:ALK) Given New $79.00 Price Target at The Goldman Sachs Group

Alaska Air Group (NYSE:ALK) had its price target increased by equities research analysts at The Goldman Sachs Group from $70.00 to $79.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 18.94% from the stock’s previous close.

A number of other research firms have also weighed in on ALK. Susquehanna raised shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price objective on the stock in a research report on Tuesday, January 7th. Citigroup increased their price objective on shares of Alaska Air Group from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Barclays increased their price objective on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Evercore ISI reduced their price objective on shares of 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. Finally, UBS Group raised their target price on shares of Alaska Air Group from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.79.

Alaska Air Group Stock Down 2.6 %

Shares of NYSE ALK opened at $66.42 on Tuesday. The firm’s 50-day moving average price is $58.86 and its 200-day moving average price is $46.62. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 1.24 and a beta of 1.54. Alaska Air Group has a 12-month low of $32.62 and a 12-month high of $69.10.

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

Insider Activity

In other Alaska Air Group news, VP Emily Halverson sold 1,329 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $64.41, for a total value of $85,600.89. Following the completion of the sale, the vice president now directly owns 7,150 shares in the company, valued at $460,531.50. This trade represents a 15.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shane R. Tackett sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $63.56, for a total transaction of $317,800.00. Following the completion of the sale, the chief financial officer now owns 27,362 shares of the company’s stock, valued at approximately $1,739,128.72. This trade represents a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,473 shares of company stock worth $2,198,342. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

Several institutional investors have recently bought and sold shares of ALK. Altshuler Shaham Ltd acquired a new stake in Alaska Air Group in the second quarter valued at approximately $28,000. Pacific Center for Financial Services acquired a new stake in Alaska Air Group in the third quarter valued at approximately $45,000. Venturi Wealth Management LLC boosted its stake in Alaska Air Group by 86.0% in the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after acquiring an additional 474 shares in the last quarter. Pacifica Partners Inc. lifted its stake in shares of 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 during the period. Finally, True Wealth Design LLC acquired a new stake in shares of Alaska Air Group during the third quarter worth $52,000. 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.