Alaska Air Group (NYSE:ALK) Price Target Raised to $58.00 at TD Cowen

Alaska Air Group (NYSE:ALK) had its price target increased by analysts at TD Cowen from $49.00 to $58.00 in a note issued to investors on Friday, Briefing.com reports. The brokerage currently has a “buy” rating on the transportation company’s stock. TD Cowen’s price target points to a potential upside of 30.50% from the company’s previous close.

ALK has been the subject of several other research reports. Evercore ISI raised their price target on shares of Alaska Air Group from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Susquehanna lowered shares of Alaska Air Group from a “positive” rating to a “neutral” rating and lifted their price objective for the company from $39.00 to $40.00 in a research note on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and raised their price target for the company from $44.00 to $51.00 in a report on Tuesday, February 20th. Bank of America lifted their price objective on shares of Alaska Air Group from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Friday. Finally, StockNews.com cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alaska Air Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.69.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $44.45 on Friday. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $57.18. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 0.86 and a beta of 1.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.58 and a current ratio of 0.61. The firm’s 50-day simple moving average is $39.52 and its 200 day simple moving average is $37.17.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.07). The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Alaska Air Group had a net margin of 2.25% and a return on equity of 14.72%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.62) EPS. As a group, research analysts anticipate that Alaska Air Group will post 4.41 earnings per share for the current fiscal year.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 6,500 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total transaction of $249,340.00. Following the transaction, the executive vice president now owns 26,048 shares in the company, valued at $999,201.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its stake in Alaska Air Group by 215.8% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 761 shares of the transportation company’s stock worth $30,000 after acquiring an additional 520 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in Alaska Air Group by 255.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 775 shares of the transportation company’s stock worth $30,000 after acquiring an additional 557 shares in the last quarter. Covestor Ltd boosted its stake in Alaska Air Group by 416.4% during the first quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock worth $33,000 after acquiring an additional 458 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in Alaska Air Group by 456.1% during the third quarter. Itau Unibanco Holding S.A. now owns 912 shares of the transportation company’s stock worth $34,000 after acquiring an additional 748 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in Alaska Air Group during the fourth quarter worth about $39,000. 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.