Alaska Air Group (NYSE:ALK) Upgraded by Melius to “Buy” Rating

Melius upgraded shares of Alaska Air Group (NYSE:ALK) from a hold rating to a buy rating in a report issued on Monday morning, MarketBeat Ratings reports. Melius currently has $56.00 target price on the transportation company’s stock.

ALK has been the topic of several other reports. Evercore ISI decreased their target price on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Barclays initiated coverage on Alaska Air Group in a research note on Monday, October 21st. They set an “overweight” rating and a $55.00 target price for the company. Susquehanna increased their price target on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. TD Cowen reduced their price objective on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, Bank of America upped their target price on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alaska Air Group presently has an average rating of “Moderate Buy” and a consensus price target of $54.17.

Alaska Air Group Stock Up 1.3 %

Shares of NYSE:ALK opened at $47.89 on Monday. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $50.16. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $41.92 and a two-hundred day moving average of $40.80. The stock has a market cap of $6.08 billion, a P/E ratio of 25.61, a PEG ratio of 0.66 and a beta of 1.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors purchased a new stake in shares of Alaska Air Group in the 1st quarter valued at approximately $36,993,000. Assenagon Asset Management S.A. raised its stake in Alaska Air Group by 2,087.8% in the third quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock valued at $34,490,000 after buying an additional 728,019 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Alaska Air Group by 5.8% during 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 last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in shares of Alaska Air Group during the 2nd quarter worth about $11,475,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Alaska Air Group by 35.0% in the 1st quarter. Russell Investments Group Ltd. now owns 862,376 shares of the transportation company’s stock valued at $37,074,000 after acquiring an additional 223,725 shares during the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

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.