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 currently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 18.94% from the stock’s previous close.

Other analysts have also issued reports about the stock. Morgan Stanley raised their price objective on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Citigroup raised their price objective on shares of Alaska Air Group from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, December 16th. JPMorgan Chase & Co. raised their price objective on shares of Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. UBS Group raised their price objective on shares of Alaska Air Group from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, Barclays raised their price objective on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.79.

Alaska Air Group Stock Performance

Alaska Air Group stock opened at $66.42 on Tuesday. 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 firm has a 50-day moving average of $58.86 and a 200-day moving average of $46.62. The firm has a market cap of $8.43 billion, a P/E ratio of 26.78, a P/E/G ratio of 1.24 and a beta of 1.54. Alaska Air Group has a 1-year low of $32.62 and a 1-year high of $69.10.

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 company 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%. Alaska Air Group’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 earnings per share. Sell-side analysts expect that Alaska Air Group will post 4.3 EPS for the current year.

Insider Buying and Selling at Alaska Air Group

In other news, VP Emily Halverson sold 1,329 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was 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 represents a 15.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Shane R. Tackett sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total value 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 $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. In the last ninety days, insiders sold 34,473 shares of company stock worth $2,198,342. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Alaska Air Group by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock worth $262,789,000 after buying an additional 357,907 shares during the period. Point72 Asset Management L.P. boosted its holdings in Alaska Air Group by 8.0% in 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 buying an additional 220,030 shares during the period. Geode Capital Management LLC boosted 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 purchasing an additional 78,186 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Alaska Air Group by 0.4% during 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 purchasing an additional 6,977 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Alaska Air Group by 45.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock valued at $64,300,000 after purchasing an additional 442,331 shares during the last quarter. 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.