Alaska Air Group, Inc. (NYSE:ALK) Receives $54.60 Consensus Target Price from Analysts

Shares of Alaska Air Group, Inc. (NYSE:ALK) have received an average rating of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $54.60.

A number of analysts recently commented on ALK shares. TD Cowen decreased their price objective on Alaska Air Group from $58.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Morgan Stanley decreased their price target on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Wolfe Research upgraded shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 price target for the company in a report on Friday, May 17th. Finally, Susquehanna decreased their target price on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th.

Hedge Funds Weigh In On Alaska Air Group

Several large investors have recently added to or reduced their stakes in ALK. Dimensional Fund Advisors LP increased its stake in Alaska Air Group by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock valued at $262,789,000 after purchasing an additional 357,907 shares during the last quarter. Boston Partners grew its position in shares of Alaska Air Group by 4.1% during the 1st quarter. Boston Partners now owns 3,966,594 shares of the transportation company’s stock valued at $170,533,000 after buying an additional 155,403 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Alaska Air Group by 8.0% during the second quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock worth $119,960,000 after acquiring an additional 220,030 shares during the period. American Century Companies Inc. raised its stake in Alaska Air Group by 8.3% during the second quarter. American Century Companies Inc. now owns 1,590,078 shares of the transportation company’s stock worth $64,239,000 after acquiring an additional 122,325 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Alaska Air Group by 8.6% in the first quarter. Clearbridge Investments LLC now owns 1,063,379 shares of the transportation company’s stock worth $45,715,000 after acquiring an additional 83,868 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $34.78 on Monday. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $46.15. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 0.67 and a beta of 1.60. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $38.40 and its 200 day moving average price is $39.87.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.19. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. Alaska Air Group had a return on equity of 11.97% and a net margin of 2.14%. Alaska Air Group’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.00 EPS. As a group, research analysts forecast that Alaska Air Group will post 4.09 earnings per share for the current fiscal year.

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.