Alaska Air Group (NYSE:ALK) Price Target Cut to $44.00 by Analysts at TD Cowen

Key Points

• TD Cowen lowered Alaska Air Group’s price target from $46 to $44 while maintaining a “buy” rating, implying approximately 10.2% upside from the prior close.
• Analyst sentiment remains broadly positive, with the stock holding a “Moderate Buy” consensus rating and an average price target of $59.15.
• Alaska Air Group shares rose 1.1% to $39.93, while the company reported a quarterly loss of $0.92 per share that was better than analysts’ expected loss of $0.99.

Alaska Air Group (NYSE:ALK - Get Free Report) had its price target lowered by investment analysts at TD Cowen from $46.00 to $44.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the transportation company's stock. TD Cowen's price target points to a potential upside of 10.20% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Raymond James Financial restated an "outperform" rating on shares of Alaska Air Group in a research note on Friday, September 25th. BMO Capital Markets set a $50.00 price target on Alaska Air Group and gave the stock an "outperform" rating in a research report on Monday. Bank of America increased their price objective on Alaska Air Group from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Cantor Fitzgerald set a $46.00 price objective on Alaska Air Group in a research report on Monday, August 24th. Finally, Wall Street Zen raised Alaska Air Group from a "strong sell" rating to a "sell" rating in a research report on Sunday, September 27th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $59.15.

Alaska Air Group Stock Up 1.1%

Shares of NYSE ALK traded up $0.44 during mid-day trading on Friday, reaching $39.93. 434,410 shares of the company were exchanged, compared to its average volume of 3,579,383. Alaska Air Group has a 1 year low of $33.03 and a 1 year high of $60.63. The firm has a 50-day moving average of $43.40 and a 200 day moving average of $43.23. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of -25.44 and a beta of 1.33. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.58.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its earnings results on Tuesday, July 21st. The transportation company reported ($0.92) EPS for the quarter, topping analysts' consensus estimates of ($0.99) by $0.07. Alaska Air Group had a negative net margin of 1.19% and a negative return on equity of 3.11%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the previous year, the company posted $1.42 earnings per share. The firm's revenue was up 9.7% on a year-over-year basis. Alaska Air Group has set its Q3 2026 guidance at 0.000-1.000 EPS. On average, research analysts expect that Alaska Air Group will post -1.88 earnings per share for the current year.

Insider Transactions at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 5,300 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $49.67, for a total value of $263,251.00. Following the completion of the transaction, the executive vice president directly owned 25,528 shares in the company, valued at $1,267,975.76. This trade represents a 17.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Benito Minicucci bought 25,000 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average cost of $40.06 per share, with a total value of $1,001,500.00. Following the acquisition, the chief executive officer directly owned 256,582 shares of the company's stock, valued at approximately $10,278,674.92. This trade represents a 10.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Alaska Air Group during the second quarter worth $606,307,000. Primecap Management Co. CA purchased a new stake in shares of Alaska Air Group during the second quarter worth about $168,467,000. Capital Research Global Investors increased its stake in shares of Alaska Air Group by 86.8% during the fourth quarter. Capital Research Global Investors now owns 3,175,350 shares of the transportation company's stock worth $159,720,000 after purchasing an additional 1,475,350 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Alaska Air Group during the 2nd quarter worth about $34,776,000. Finally, Bank of America Corp DE acquired a new position in shares of Alaska Air Group during the 2nd quarter worth about $32,751,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Company Profile

Alaska Air Group, Inc is an airline holding company headquartered in Seattle, Washington. Its principal subsidiaries are Alaska Airlines and Hawaiian Airlines, which provide scheduled passenger and cargo air transportation, as well as Horizon Air, a regional airline that operates flights for Alaska Airlines. The group also owns McGee Air Services, an aviation services provider.

Alaska Airlines serves destinations across Alaska, the contiguous United States, Canada, Mexico, and other locations in North America.

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.