Barclays Raises Alaska Air Group (NYSE:ALK) Price Target to $40.00

Alaska Air Group (NYSE:ALK) had its price target increased by Barclays from $37.00 to $40.00 in a report issued on Friday, The Fly reports.

ALK has been the topic of several other research reports. TheStreet raised shares of Alaska Air Group from a d+ rating to a c- rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. upped their target price on Alaska Air Group from $43.00 to $54.00 in a research report on Wednesday, June 10th. Goldman Sachs Group increased their target price on Alaska Air Group from $51.00 to $63.00 and gave the company a buy rating in a research note on Monday, June 29th. Bank of America raised Alaska Air Group from a neutral rating to a buy rating in a research report on Monday, June 8th. Finally, Seaport Global Securities started coverage on shares of Alaska Air Group in a research report on Tuesday, September 15th. They issued a buy rating and a $53.00 price objective for the company. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $48.13.

NYSE ALK opened at $41.04 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.79 and a quick ratio of 0.77. Alaska Air Group has a 1-year low of $20.02 and a 1-year high of $72.22. The firm has a market capitalization of $5.07 billion, a P/E ratio of 89.22 and a beta of 1.53. The business’s 50-day simple moving average is $38.31 and its 200-day simple moving average is $35.04.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, July 23rd. The transportation company reported ($3.54) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.39) by ($0.15). Alaska Air Group had a net margin of 0.85% and a negative return on equity of 0.83%. The business had revenue of $421.00 million during the quarter, compared to analysts’ expectations of $336.31 million. During the same quarter in the previous year, the business posted $2.17 EPS. The company’s quarterly revenue was down 81.6% on a year-over-year basis. On average, equities research analysts expect that Alaska Air Group will post -8.58 EPS for the current fiscal year.

In other news, EVP Andrew R. Harrison sold 2,500 shares of Alaska Air Group stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $39.02, for a total value of $97,550.00. Following the completion of the transaction, the executive vice president now owns 20,005 shares in the company, valued at approximately $780,595.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph A. Sprague sold 4,570 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $39.04, for a total value of $178,412.80. Following the completion of the sale, the insider now owns 16,444 shares of the company’s stock, valued at $641,973.76. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Weaver Consulting Group lifted its position in shares of Alaska Air Group by 73.8% in the 2nd quarter. Weaver Consulting Group now owns 695 shares of the transportation company’s stock worth $25,000 after buying an additional 295 shares during the last quarter. Barnett & Company Inc. raised its stake in Alaska Air Group by 1.3% during the second quarter. Barnett & Company Inc. now owns 24,912 shares of the transportation company’s stock worth $903,000 after acquiring an additional 325 shares during the period. Copperwynd Financial LLC lifted its holdings in Alaska Air Group by 4.4% in the second quarter. Copperwynd Financial LLC now owns 8,739 shares of the transportation company’s stock worth $317,000 after acquiring an additional 366 shares during the last quarter. CSat Investment Advisory L.P. lifted its holdings in Alaska Air Group by 2.3% in the first quarter. CSat Investment Advisory L.P. now owns 22,209 shares of the transportation company’s stock worth $633,000 after acquiring an additional 493 shares during the last quarter. Finally, New Mexico Educational Retirement Board boosted its stake in Alaska Air Group by 6.5% in the second quarter. New Mexico Educational Retirement Board now owns 8,250 shares of the transportation company’s stock valued at $299,000 after acquiring an additional 500 shares during the period. 73.06% of the stock is owned by hedge funds and other institutional investors.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.

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