Alaska Air Group (NYSE:ALK) Receives Positive Rating from Susquehanna

Key Points

• Susquehanna has raised its price target for Alaska Air Group from $50.00 to $60.00, indicating a potential upside of 14.18% from the current stock price.
• UBS Group and TD Cowen have also increased their price targets for Alaska Air Group, with the average rating currently at "Moderate Buy" and a consensus target price of $67.83.
• Alaska Air Group reported $1.78 EPS for its last quarter, exceeding estimates, and experienced a 27.9% increase in quarterly revenue compared to the same period last year.

Alaska Air Group (NYSE:ALK - Get Free Report)'s stock had its "positive" rating reaffirmed by research analysts at Susquehanna in a research note issued on Tuesday, MarketBeat reports. They presently have a $60.00 price target on the transportation company's stock, up from their previous price target of $50.00. Susquehanna's price target would indicate a potential upside of 12.87% from the company's current price.

A number of other equities analysts also recently commented on the company. TD Cowen lifted their price target on Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Barclays lifted their price target on Alaska Air Group from $55.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, UBS Group lifted their price target on Alaska Air Group from $49.00 to $56.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Alaska Air Group currently has an average rating of "Moderate Buy" and an average price target of $67.83.

Alaska Air Group Stock Up 1.1%

Shares of Alaska Air Group stock opened at $53.16 on Tuesday. The business has a 50-day moving average of $50.94 and a 200-day moving average of $55.24. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.52 and a quick ratio of 0.49. The company has a market capitalization of $6.53 billion, a PE ratio of 21.61, a P/E/G ratio of 0.58 and a beta of 1.45. Alaska Air Group has a 1-year low of $32.62 and a 1-year high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.22. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.65 billion. Alaska Air Group had a return on equity of 12.62% and a net margin of 2.33%. The company's revenue was up 27.9% on a year-over-year basis. During the same period last year, the firm earned $2.55 earnings per share. As a group, equities analysts forecast that Alaska Air Group will post 6.03 EPS for the current fiscal year.

Insider Transactions at Alaska Air Group

In other news, VP Emily Halverson sold 2,946 shares of Alaska Air Group stock in a transaction that occurred on Thursday, June 5th. The stock was 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 of the company's stock, valued at approximately $423,709.02. The trade was a 26.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 7,600 shares of Alaska Air Group stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $53.22, for a total value of $404,472.00. Following the sale, the executive vice president directly owned 18,930 shares in the company, valued at approximately $1,007,454.60. This trade represents a 28.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,046 shares of company stock worth $957,045 in the last three months. 0.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds have recently made changes to their positions in the business. Wood Tarver Financial Group LLC bought a new stake in shares of Alaska Air Group during the fourth quarter valued at approximately $38,000. Brooklyn Investment Group raised its holdings in Alaska Air Group by 41.1% during the first quarter. Brooklyn Investment Group now owns 632 shares of the transportation company's stock worth $31,000 after purchasing an additional 184 shares in the last quarter. Perkins Coie Trust Co raised its holdings in Alaska Air Group by 125.7% during the first quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock worth $33,000 after purchasing an additional 377 shares in the last quarter. UMB Bank n.a. raised its holdings in Alaska Air Group by 459.1% during the first quarter. UMB Bank n.a. now owns 1,297 shares of the transportation company's stock worth $64,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in Alaska Air Group by 2,162.3% during the second quarter. Assetmark Inc. now owns 1,380 shares of the transportation company's stock worth $68,000 after purchasing an additional 1,319 shares in the last quarter. 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.