Alaska Air Group (NYSE:ALK) Shares Gap Up Following Analyst Upgrade

Alaska Air Group, Inc. (NYSE:ALK - Get Free Report) shares gapped up prior to trading on Thursday after Barclays raised their price target on the stock from $55.00 to $60.00. The stock had previously closed at $49.73, but opened at $52.50. Barclays currently has an overweight rating on the stock. Alaska Air Group shares last traded at $53.92, with a volume of 973,058 shares trading hands.

ALK has been the subject of a number of other reports. Bank of America reduced their price target on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Citigroup reduced their target price on shares of Alaska Air Group from $83.00 to $81.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. TD Cowen lifted their target price on Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Susquehanna cut their price target on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating for the company in a report on Monday, April 7th. Finally, UBS Group assumed coverage on Alaska Air Group in a report on Monday, July 7th. They issued a "neutral" rating and a $49.00 price target for the company. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Alaska Air Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.83.

Insider Buying and Selling

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

Hedge Funds Weigh In On Alaska Air Group

A number of hedge funds have recently modified their holdings of ALK. Brooklyn Investment Group grew its position in Alaska Air Group by 41.1% during the 1st quarter. Brooklyn Investment Group now owns 632 shares of the transportation company's stock worth $31,000 after acquiring an additional 184 shares during the last quarter. Perkins Coie Trust Co grew its position in Alaska Air Group by 125.7% during the 1st quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock worth $33,000 after acquiring an additional 377 shares during the last quarter. Wood Tarver Financial Group LLC bought a new stake in Alaska Air Group during the 4th quarter worth approximately $38,000. EverSource Wealth Advisors LLC grew its position in Alaska Air Group by 61.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock worth $62,000 after acquiring an additional 364 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Alaska Air Group by 459.1% during the 1st quarter. UMB Bank n.a. now owns 1,297 shares of the transportation company's stock worth $64,000 after acquiring an additional 1,065 shares during the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Stock Performance

The firm has a market capitalization of $6.45 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 0.55 and a beta of 1.41. The stock has a 50-day moving average of $50.65 and a 200 day moving average of $56.80. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.52 and a current ratio of 0.56.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.05). The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.19 billion. Alaska Air Group had a return on equity of 15.01% and a net margin of 2.86%. The firm's revenue was up 40.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.92) earnings per share. On average, research analysts anticipate that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

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.