Alaska Air Group (NYSE:ALK) Price Target Raised to $80.00

Alaska Air Group (NYSE:ALK) had its price target upped by Barclays from $55.00 to $80.00 in a research report report published on Thursday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other brokerages have also weighed in on ALK. Bank of America upped their target price on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Monday, October 28th. Citigroup reduced their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Monday, October 28th. Finally, 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 note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $57.31.

Alaska Air Group Price Performance

NYSE:ALK opened at $53.96 on Thursday. The business’s 50-day simple moving average is $45.18 and its two-hundred day simple moving average is $41.34. Alaska Air Group has a 52 week low of $32.00 and a 52 week high of $54.01. The stock has a market cap of $6.85 billion, a PE ratio of 21.76, a P/E/G ratio of 1.17 and a beta of 1.59. 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 (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the company earned $1.83 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, analysts forecast that Alaska Air Group will post 4.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd purchased 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 stake in Alaska Air Group in the third quarter worth about $45,000. Venturi Wealth Management LLC boosted its position in shares of Alaska Air Group by 86.0% during the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after buying an additional 474 shares during the period. Pacifica Partners Inc. grew its stake in shares of Alaska Air Group by 952.4% during the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after buying an additional 1,000 shares during the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of Alaska Air Group in the third quarter worth approximately $52,000. Institutional investors own 81.90% of the company’s stock.

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.