Alaska Air Group (NYSE:ALK) Price Target Raised to $55.00 at Bank of America

Alaska Air Group (NYSE:ALK) had its target price hoisted by investment analysts at Bank of America from $50.00 to $55.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target would suggest a potential upside of 31.11% from the stock’s current price.

Several other equities analysts have also commented on the company. Morgan Stanley reduced their price objective on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Wolfe Research raised shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research note on Friday, May 17th. Susquehanna decreased their target price on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Citigroup lowered their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, TD Cowen increased their price objective on Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Alaska Air Group Price Performance

Alaska Air Group stock traded up $2.00 during mid-day trading on Friday, hitting $41.95. 1,515,330 shares of the company traded hands, compared to its average volume of 2,219,452. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. Alaska Air Group has a one year low of $30.75 and a one year high of $46.15. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 0.60 and a beta of 1.59. The stock has a fifty day moving average price of $36.81 and a 200-day moving average price of $39.76.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.19. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.00 EPS. On average, equities analysts predict that Alaska Air Group will post 4.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. CVA Family Office LLC boosted its position in Alaska Air Group by 17.1% during the 1st quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock valued at $96,000 after acquiring an additional 325 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Alaska Air Group by 28.4% during the fourth quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock valued at $66,000 after purchasing an additional 373 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in Alaska Air Group by 0.3% in the first quarter. Gateway Investment Advisers LLC now owns 153,403 shares of the transportation company’s stock worth $6,595,000 after purchasing an additional 391 shares during the period. Private Advisor Group LLC raised its holdings in Alaska Air Group by 6.8% in the fourth quarter. Private Advisor Group LLC now owns 6,209 shares of the transportation company’s stock worth $243,000 after purchasing an additional 397 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in Alaska Air Group by 4.7% during the second quarter. QRG Capital Management Inc. now owns 9,029 shares of the transportation company’s stock valued at $365,000 after buying an additional 406 shares during the period. Hedge funds and other 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.