Alaska Air Group (NYSE:ALK) Price Target Raised to $60.00

Alaska Air Group (NYSE:ALK - Free Report) had its price target lifted by Barclays from $55.00 to $60.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the transportation company's stock.

Several other analysts have also commented on the stock. 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 report on Friday, April 25th. Susquehanna lowered their price target on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a research report on Monday, April 7th. UBS Group assumed coverage on shares of Alaska Air Group in a research report on Monday, July 7th. They issued a "neutral" rating and a $49.00 price target on the stock. 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 report on Thursday, April 3rd. Finally, Citigroup lowered their price target on shares of Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Alaska Air Group presently has a consensus rating of "Moderate Buy" and an average target price of $66.83.

Alaska Air Group Price Performance

ALK traded down $1.63 on Thursday, hitting $52.55. 2,218,255 shares of the company were exchanged, compared to its average volume of 2,917,141. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.52 and a current ratio of 0.56. The business's fifty day moving average is $50.65 and its 200 day moving average is $56.87. Alaska Air Group has a fifty-two week low of $32.62 and a fifty-two week high of $78.08. The firm has a market capitalization of $6.45 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 0.57 and a beta of 1.41.

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

Insider Buying and Selling

In related news, VP Emily Halverson sold 2,946 shares of the firm's stock in a transaction that occurred 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 sale, the vice president owned 8,253 shares in the company, valued at approximately $423,709.02. This trade represents a 26.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 7,500 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president owned 26,530 shares in the company, valued at approximately $1,419,620.30. This trade represents a 22.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,479 shares of company stock worth $554,228. 1.00% of the stock is owned by company insiders.

Institutional Trading of Alaska Air Group

A number of hedge funds have recently bought and sold shares of the company. Harbour Capital Advisors LLC purchased a new position in Alaska Air Group during the second quarter worth approximately $320,000. UMB Bank n.a. raised its stake in Alaska Air Group by 71.9% during the second quarter. UMB Bank n.a. now owns 2,230 shares of the transportation company's stock worth $110,000 after purchasing an additional 933 shares during the period. Assenagon Asset Management S.A. raised its stake in Alaska Air Group by 2,880.4% during the second quarter. Assenagon Asset Management S.A. now owns 624,035 shares of the transportation company's stock worth $30,877,000 after purchasing an additional 603,097 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Alaska Air Group by 3.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 26,151 shares of the transportation company's stock worth $1,335,000 after purchasing an additional 991 shares during the period. Finally, Pallas Capital Advisors LLC raised its stake in Alaska Air Group by 15.2% during the second quarter. Pallas Capital Advisors LLC now owns 8,017 shares of the transportation company's stock worth $397,000 after purchasing an additional 1,058 shares during the period. Institutional investors and hedge funds own 81.90% of the company's stock.

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.