Brokerages Set Alaska Air Group, Inc. (NYSE:ALK) Target Price at $57.31

Alaska Air Group, Inc. (NYSE:ALK) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $57.31.

A number of research firms have weighed in on ALK. Barclays boosted their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $70.00 price objective on shares of Alaska Air Group in a research note on Friday, November 15th. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Monday, October 28th. Citigroup reduced their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Susquehanna boosted their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th.

Alaska Air Group Stock Performance

NYSE ALK opened at $52.42 on Wednesday. The firm’s fifty day moving average price is $46.44 and its two-hundred day moving average price is $41.67. The stock has a market cap of $6.65 billion, a PE ratio of 21.14, a PEG ratio of 1.19 and a beta of 1.59. Alaska Air Group has a fifty-two week low of $32.00 and a fifty-two week high of $54.01. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The firm had revenue of $3.07 billion for 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 quarter in the previous year, the firm posted $1.83 earnings per share. On average, equities analysts expect that Alaska Air Group will post 4.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Alaska Air Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new position in shares of Alaska Air Group during the 2nd quarter worth about $28,000. Pacific Center for Financial Services bought a new position in shares of Alaska Air Group during the 3rd quarter worth about $45,000. Venturi Wealth Management LLC boosted its position in shares of Alaska Air Group by 86.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after purchasing an additional 474 shares in the last quarter. Pacifica Partners Inc. boosted its position in shares of Alaska Air Group by 952.4% during the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after purchasing an additional 1,000 shares in the last quarter. Finally, True Wealth Design LLC bought a new position in shares of Alaska Air Group during the 3rd quarter worth about $52,000. Institutional investors 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.