Alaska Air Group (NYSE:ALK) Price Target Lowered to $92.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut its price target on Alaska Air Group from $94 to $92 while keeping an overweight rating. The new target still implies significant upside from the stock’s current price.
• Other analysts remain generally constructive on ALK, with recent ratings including buy and outperform calls; the overall consensus is Moderate Buy with an average price target of $65.65.
• Alaska Air Group shares rose 3.6% to $46.34, and the company recently reported a smaller-than-expected quarterly loss, beating EPS estimates while revenue came in slightly below forecasts.

Alaska Air Group (NYSE:ALK - Get Free Report) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $94.00 to $92.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the transportation company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 98.52% from the company's current price.

ALK has been the subject of several other reports. TD Cowen reaffirmed a "buy" rating and issued a $59.00 price target (up from $51.00) on shares of Alaska Air Group in a report on Thursday, July 2nd. Weiss Ratings downgraded shares of Alaska Air Group from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday. BMO Capital Markets lifted their target price on Alaska Air Group from $55.00 to $62.50 and gave the stock an "outperform" rating in a report on Thursday, July 2nd. Barclays set a $65.00 price target on Alaska Air Group and gave the company an "overweight" rating in a report on Wednesday. Finally, Susquehanna lifted their target price on shares of Alaska Air Group from $50.00 to $70.00 and gave the stock a "positive" rating in a research report on Tuesday, July 7th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.65.

Alaska Air Group Trading Up 3.6%

NYSE ALK traded up $1.59 during trading hours on Friday, hitting $46.34. 1,783,869 shares of the company's stock were exchanged, compared to its average volume of 3,933,576. Alaska Air Group has a 12-month low of $33.03 and a 12-month high of $65.88. The business's 50 day moving average is $46.34 and its 200-day moving average is $45.85. The firm has a market capitalization of $5.16 billion, a P/E ratio of -29.55 and a beta of 1.28. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.39 and a current ratio of 0.55.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The transportation company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($0.99) by $0.07. Alaska Air Group had a negative return on equity of 3.11% and a negative net margin of 1.19%.The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period in the previous year, the company posted $1.42 EPS. The company's revenue was up 9.7% compared to the same quarter last year. Alaska Air Group has set its Q3 2026 guidance at 0.000-1.000 EPS. As a group, analysts anticipate that Alaska Air Group will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Alaska Air Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ALK. Atlas Capital Advisors Inc. acquired a new position in Alaska Air Group during the 4th quarter worth $26,000. First Command Advisory Services Inc. boosted its stake in Alaska Air Group by 242.5% during the 4th quarter. First Command Advisory Services Inc. now owns 685 shares of the transportation company's stock worth $34,000 after acquiring an additional 485 shares during the last quarter. Cedar Mountain Advisors LLC grew its holdings in shares of Alaska Air Group by 963.3% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 840 shares of the transportation company's stock valued at $44,000 after buying an additional 761 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Alaska Air Group by 30.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 910 shares of the transportation company's stock worth $46,000 after acquiring an additional 212 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Alaska Air Group by 32.5% during the 1st quarter. Parallel Advisors LLC now owns 1,570 shares of the transportation company's stock worth $58,000 after buying an additional 385 shares during the period. 81.90% of the stock is owned by institutional investors.

About Alaska Air Group

Alaska Air Group is a publicly traded holding company headquartered in Seattle, Washington, that operates two main airlines—Alaska Airlines and Horizon Air. Through these carriers, the company offers scheduled passenger and cargo services across a network spanning the United States, Canada and Mexico. Its core business activities include domestic and international air transportation, loyalty program management under the Mileage Plan brand, and ancillary revenue streams such as baggage fees, in-flight sales and code-share partnerships with other global airlines.

The roots of Alaska Air Group trace back to the foundation of its flagship carrier, Alaska Airlines, in 1932.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.