Alaska Air Group (NYSE:ALK) PT Raised to $56.00 at Bank of America

Alaska Air Group (NYSE:ALK) had its price objective boosted by investment analysts at Bank of America from $50.00 to $56.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price would suggest a potential upside of 26.00% from the company’s previous close.

ALK has been the subject of a number of other research reports. UBS Group initiated coverage on shares of Alaska Air Group in a report on Wednesday, March 20th. They issued a “buy” rating and a $54.00 price objective for the company. TD Cowen lifted their price target on shares of Alaska Air Group from $41.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Susquehanna downgraded shares of Alaska Air Group from a “positive” rating to a “neutral” rating and lifted their price target for the stock from $39.00 to $40.00 in a research note on Wednesday, January 10th. Melius downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, StockNews.com downgraded shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.69.

Alaska Air Group Trading Up 4.0 %

Shares of ALK stock opened at $44.45 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.58 and a current ratio of 0.61. The stock has a market capitalization of $5.59 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 0.86 and a beta of 1.63. The company has a 50 day moving average price of $39.52 and a 200 day moving average price of $37.17. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $57.18.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.07). The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.18 billion. Alaska Air Group had a net margin of 2.25% and a return on equity of 14.72%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.62) EPS. Equities research analysts predict that Alaska Air Group will post 4.41 EPS for the current fiscal year.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 6,500 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total value of $249,340.00. Following the completion of the sale, the executive vice president now owns 26,048 shares in the company, valued at approximately $999,201.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Alaska Air Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC lifted its holdings in Alaska Air Group by 78.2% in the 1st quarter. Private Advisor Group LLC now owns 9,980 shares of the transportation company’s stock valued at $579,000 after purchasing an additional 4,379 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Alaska Air Group by 23.6% during the 1st quarter. MetLife Investment Management LLC now owns 34,204 shares of the transportation company’s stock worth $1,984,000 after acquiring an additional 6,520 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Alaska Air Group by 7.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,847 shares of the transportation company’s stock worth $977,000 after purchasing an additional 1,119 shares in the last quarter. APG Asset Management N.V. acquired a new stake in Alaska Air Group during the 1st quarter worth approximately $980,000. Finally, Great West Life Assurance Co. Can grew its position in Alaska Air Group by 3.4% in the first quarter. Great West Life Assurance Co. Can now owns 17,972 shares of the transportation company’s stock valued at $1,077,000 after acquiring an additional 592 shares in the last quarter. 81.90% of the stock is 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.