Alaska Air Group (NYSE:ALK) Price Target Raised to $78.00 at TD Cowen

Alaska Air Group (NYSE:ALK) had its target price increased by equities researchers at TD Cowen from $68.00 to $78.00 in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price would suggest a potential upside of 27.20% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Monday, October 28th. UBS Group reiterated a “buy” rating and issued a $72.00 target price on shares of Alaska Air Group in a research note on Tuesday, November 26th. Melius upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, October 28th. Barclays lifted their price objective on shares of Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Evercore ISI decreased their target price on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.38.

Alaska Air Group Stock Performance

Alaska Air Group stock opened at $61.32 on Wednesday. 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 has a 12 month low of $32.62 and a 12 month high of $63.90. The company has a fifty day moving average price of $49.29 and a two-hundred day moving average price of $42.57. The company has a market cap of $7.78 billion, a PE ratio of 24.73, a P/E/G ratio of 1.23 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.22 by $0.03. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.83 EPS. Research analysts expect that Alaska Air Group will post 4.26 earnings per share for the current year.

Institutional Trading of Alaska Air Group

A number of institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in Alaska Air Group by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock worth $262,789,000 after acquiring an additional 357,907 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Alaska Air Group by 8.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock worth $119,960,000 after acquiring an additional 220,030 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Alaska Air Group by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company’s stock valued at $93,229,000 after acquiring an additional 78,186 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Alaska Air Group by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company’s stock valued at $72,054,000 after acquiring an additional 6,977 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Alaska Air Group by 8.3% in the 2nd quarter. American Century Companies Inc. now owns 1,590,078 shares of the transportation company’s stock worth $64,239,000 after purchasing an additional 122,325 shares during the last quarter. Institutional investors and hedge funds 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.