TD Cowen Issues Positive Forecast for Alaska Air Group (NYSE:ALK) Stock Price

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

A number of other analysts also recently issued reports on the stock. UBS Group reissued a “buy” rating and set a $72.00 target price on shares of Alaska Air Group in a research report on Tuesday, November 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $70.00 target price on shares of Alaska Air Group in a research note on Friday, November 15th. Evercore ISI decreased their price target 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. Morgan Stanley increased their price target on Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Melius upgraded 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. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.38.

Alaska Air Group Stock Up 13.2 %

Shares of ALK opened at $61.32 on Wednesday. Alaska Air Group has a fifty-two week low of $32.62 and a fifty-two week high of $63.90. The company’s fifty day moving average is $49.29 and its two-hundred day moving average is $42.57. The firm has a market cap of $7.78 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.23 and a beta of 1.60. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating 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 return on equity of 12.81% and a net margin of 2.99%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.83 earnings per share. Analysts forecast that Alaska Air Group will post 4.26 earnings per share for the current year.

Institutional Investors Weigh In On Alaska Air Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd purchased a new position in shares of Alaska Air Group during the 2nd 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 $45,000. Venturi Wealth Management LLC boosted its stake in 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 valued at $46,000 after acquiring an additional 474 shares during the last quarter. Pacifica Partners Inc. grew its holdings in 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 acquiring an additional 1,000 shares in the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of Alaska Air Group in the 3rd quarter worth about $52,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

About Alaska Air Group

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.