JPMorgan Chase & Co. Raises Alaska Air Group (NYSE:ALK) Price Target to $96.00

Key Points

• JPMorgan Chase & Co. has increased its price target for Alaska Air Group from $73.00 to $96.00, indicating a potential upside of 50.45% from the stock's previous close.
• The company reported strong quarterly earnings, with earnings per share of $1.78 beating the consensus estimate, and revenue increased by 27.9% year-over-year.
• Thirteen analysts have rated Alaska Air Group with a Buy rating, contributing to a consensus target price of $71.15, reflecting strong market confidence in the company's growth.

Alaska Air Group (NYSE:ALK - Free Report) had its price objective lifted by JPMorgan Chase & Co. from $73.00 to $96.00 in a research report report published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the transportation company's stock.

A number of other equities analysts have also recently issued reports on the stock. UBS Group raised their target price on shares of Alaska Air Group from $49.00 to $56.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Barclays raised their target price on shares of Alaska Air Group from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Raymond James Financial raised shares of Alaska Air Group from a "market perform" rating to an "outperform" rating and set a $70.00 target price on the stock in a report on Monday, August 25th. Finally, Susquehanna lifted their price target on Alaska Air Group from $50.00 to $60.00 and gave the company a "positive" rating in a report on Tuesday, August 5th. Thirteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $71.92.

Alaska Air Group Stock Up 3.6%

Shares of Alaska Air Group stock traded up $2.05 during trading hours on Friday, hitting $59.65. 1,064,544 shares of the company's stock traded hands, compared to its average volume of 3,099,470. The stock has a 50 day simple moving average of $56.64 and a 200-day simple moving average of $52.46. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 1.14. The company has a market cap of $6.88 billion, a PE ratio of 24.36, a PEG ratio of 0.64 and a beta of 1.45. Alaska Air Group has a twelve month low of $39.10 and a twelve month high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.22. Alaska Air Group had a return on equity of 12.62% and a net margin of 2.33%.The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the firm earned $2.55 earnings per share. The company's revenue was up 27.9% on a year-over-year basis. Alaska Air Group has set its Q3 2025 guidance at 1.000-1.400 EPS. FY 2025 guidance at 3.250- EPS. Equities research analysts anticipate that Alaska Air Group will post 6.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Kyle B. Levine sold 5,914 shares of Alaska Air Group stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $57.75, for a total transaction of $341,533.50. Following the sale, the senior vice president owned 20,917 shares of the company's stock, valued at approximately $1,207,956.75. This trade represents a 22.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew R. Harrison sold 7,600 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $53.22, for a total transaction of $404,472.00. Following the sale, the executive vice president directly owned 18,930 shares in the company, valued at $1,007,454.60. This trade represents a 28.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,514 shares of company stock worth $1,031,306. Corporate insiders own 0.92% of the company's stock.

Hedge Funds Weigh In On Alaska Air Group

Large investors have recently bought and sold shares of the business. New Mexico Educational Retirement Board acquired a new stake in Alaska Air Group in the first quarter worth $1,235,000. Cambridge Investment Research Advisors Inc. raised its holdings in Alaska Air Group by 416.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,499 shares of the transportation company's stock worth $1,501,000 after purchasing an additional 24,592 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Alaska Air Group by 2.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,160 shares of the transportation company's stock worth $1,238,000 after acquiring an additional 713 shares in the last quarter. KBC Group NV bought a new stake in shares of Alaska Air Group during the first quarter worth $76,000. Finally, Bank of New York Mellon Corp increased its position in shares of Alaska Air Group by 8.9% during the first quarter. Bank of New York Mellon Corp now owns 971,938 shares of the transportation company's stock worth $47,839,000 after acquiring an additional 79,099 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.