TD Cowen Boosts Alaska Air Group (NYSE:ALK) Price Target to $62.00

Alaska Air Group (NYSE:ALK - Get Free Report) had its target price increased by investment analysts at TD Cowen from $54.00 to $62.00 in a report issued on Friday, MarketBeat reports. The firm presently has a "buy" rating on the transportation company's stock. TD Cowen's price target would indicate a potential upside of 41.01% from the company's previous close.

A number of other research firms have also commented on ALK. JPMorgan Chase & Co. raised their price target on Alaska Air Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. Bank of America dropped their price target on 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. Citigroup dropped their price target on 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. Barclays dropped their target price on Alaska Air Group from $80.00 to $62.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group downgraded Alaska Air Group from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $75.00 to $54.00 in a research report on Monday, April 7th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $65.92.

Alaska Air Group Trading Up 0.6 %

NYSE:ALK traded up $0.27 during mid-day trading on Friday, hitting $43.97. The company had a trading volume of 1,403,829 shares, compared to its average volume of 2,657,132. Alaska Air Group has a fifty-two week low of $32.62 and a fifty-two week high of $78.08. The business's fifty day moving average is $52.81 and its two-hundred day moving average is $57.94. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61. The firm has a market cap of $5.40 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.43 and a beta of 1.37.

Alaska Air Group (NYSE:ALK - Get Free Report) last released 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 net margin of 3.37% and a return on equity of 14.66%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the company posted ($0.92) EPS. The company's quarterly revenue was up 40.5% compared to the same quarter last year. As a group, research analysts expect that Alaska Air Group will post 6.03 earnings per share for the current year.

Insider Activity

In related news, SVP Andrea L. Schneider sold 1,830 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $73.32, for a total value of $134,175.60. Following the completion of the sale, the senior vice president now directly owns 20,286 shares in the company, valued at approximately $1,487,369.52. This trade represents a 8.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Shane R. Tackett sold 22,893 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $75.74, for a total transaction of $1,733,915.82. Following the completion of the sale, the chief financial officer now owns 31,873 shares of the company's stock, valued at $2,414,061.02. This trade represents a 41.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,480 shares of company stock worth $4,035,973 in the last quarter. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds have recently bought and sold shares of the company. Avior Wealth Management LLC grew its holdings in Alaska Air Group by 44.8% in the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company's stock valued at $38,000 after buying an additional 182 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Alaska Air Group in the fourth quarter valued at about $38,000. Perkins Coie Trust Co grew its stake in shares of Alaska Air Group by 125.7% in the first quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock valued at $33,000 after acquiring an additional 377 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Alaska Air Group in the fourth quarter valued at about $52,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Alaska Air Group by 61.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock valued at $62,000 after acquiring an additional 364 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.