Alaska Air Group (NYSE:ALK) Price Target Raised to $56.00

Key Points

• Price Target Increase: Alaska Air Group's target price was raised by UBS Group from $49.00 to $56.00, indicating an expected upside of 8.98% from its previous close.
• Consensus Rating: The stock currently holds a consensus rating of "Moderate Buy" with an average target price of $67.42, alongside eleven buy ratings from analysts.
• Recent Earnings Report: For the last quarter, Alaska Air Group reported $1.78 EPS, exceeding analysts' estimates of $1.56, and achieved a year-over-year revenue increase of 27.9% to $3.70 billion.
• Insider Activity: Recent insider transactions included two executives selling shares, with VP Emily Halverson reducing her stake by 26.31% and EVP Andrew R. Harrison decreasing his holdings by 22.04%.

Alaska Air Group (NYSE:ALK - Get Free Report) had its target price increased by equities research analysts at UBS Group from $49.00 to $56.00 in a report released on Friday,Benzinga reports. The firm currently has a "neutral" rating on the transportation company's stock. UBS Group's target price would indicate a potential upside of 8.98% from the company's previous close.

Several other research firms have also recently commented on ALK. TD Cowen increased their price target on shares of Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Susquehanna cut their target price on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a report on Monday, April 7th. Barclays raised their price objective 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. Finally, Bank of America lowered their price target on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Alaska Air Group currently has a consensus rating of "Moderate Buy" and an average target price of $67.42.

Alaska Air Group Stock Up 1.1%

Shares of NYSE:ALK traded up $0.56 on Friday, reaching $51.39. The company had a trading volume of 638,738 shares, compared to its average volume of 3,248,106. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 1.05. Alaska Air Group has a twelve month low of $32.62 and a twelve month high of $78.08. The stock has a 50-day moving average price of $50.73 and a 200 day moving average price of $56.08. The stock has a market capitalization of $6.31 billion, a P/E ratio of 20.91, a P/E/G ratio of 0.58 and a beta of 1.41.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.22. Alaska Air Group had a net margin of 2.33% and a return on equity of 12.33%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the business earned $2.55 earnings per share. The firm's revenue for the quarter was up 27.9% on a year-over-year basis. On average, equities analysts expect that Alaska Air Group will post 6.03 EPS for the current year.

Insider Activity

In other news, VP Emily Halverson sold 2,946 shares of Alaska Air Group stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $51.34, for a total transaction of $151,247.64. Following the completion of the sale, the vice president directly owned 8,253 shares of the company's stock, valued at approximately $423,709.02. The trade was a 26.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew R. Harrison sold 7,500 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $53.51, for a total transaction of $401,325.00. Following the completion of the sale, the executive vice president directly owned 26,530 shares of the company's stock, valued at $1,419,620.30. This represents a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,479 shares of company stock valued at $554,228. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alaska Air Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in shares of Alaska Air Group by 328.7% during the fourth quarter. FMR LLC now owns 4,649,388 shares of the transportation company's stock valued at $301,048,000 after buying an additional 3,564,749 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Alaska Air Group by 249.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,638,464 shares of the transportation company's stock worth $129,865,000 after purchasing an additional 1,882,598 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Alaska Air Group by 134.0% in the fourth quarter. Point72 Asset Management L.P. now owns 2,134,221 shares of the transportation company's stock worth $138,191,000 after purchasing an additional 1,222,277 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Alaska Air Group by 4,615.3% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 943,064 shares of the transportation company's stock valued at $61,063,000 after acquiring an additional 923,064 shares in the last quarter. Finally, Candlestick Capital Management LP purchased a new position in Alaska Air Group during the fourth quarter valued at $51,306,000. Hedge funds and other 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.

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