TD Cowen Issues Positive Forecast for Alaska Air Group (NYSE:ALK) Stock Price

Alaska Air Group (NYSE:ALK) had its price objective raised by TD Cowen from $85.00 to $110.00 in a research report report published on Friday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the transportation company’s stock.

ALK has been the subject of several other research reports. UBS Group increased their price target on Alaska Air Group from $81.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group increased their price target on Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Citigroup raised their target price on Alaska Air Group from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Barclays raised their target price on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley raised their target price on Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned 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 $74.86.

Alaska Air Group Price Performance

Shares of Alaska Air Group stock opened at $69.90 on Friday. The business has a 50 day simple moving average of $61.76 and a two-hundred day simple moving average of $48.28. Alaska Air Group has a 12 month low of $32.62 and a 12 month high of $71.70. The stock has a market capitalization of $8.87 billion, a P/E ratio of 22.92, a PEG ratio of 0.59 and a beta of 1.54. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.78% and a net margin of 3.37%. As a group, analysts predict that Alaska Air Group will post 6.03 EPS for the current fiscal year.

Insider Activity at Alaska Air Group

In related news, VP Emily Halverson sold 1,329 shares of Alaska Air Group stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $64.41, for a total value of $85,600.89. Following the completion of the transaction, the vice president now directly owns 7,150 shares in the company, valued at approximately $460,531.50. This trade represents a 15.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Andrea L. Schneider sold 800 shares of Alaska Air Group stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $63.89, for a total value of $51,112.00. Following the completion of the transaction, the senior vice president now owns 20,286 shares of the company’s stock, valued at approximately $1,296,072.54. This trade represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,473 shares of company stock worth $2,198,342. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Alaska Air Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ALK. Canada Pension Plan Investment Board acquired a new stake in Alaska Air Group in the second quarter valued at $69,000. Sei Investments Co. raised its stake in Alaska Air Group by 27.7% in the second quarter. Sei Investments Co. now owns 77,281 shares of the transportation company’s stock valued at $3,123,000 after buying an additional 16,743 shares in the last quarter. Evergreen Capital Management LLC raised its stake in Alaska Air Group by 18.0% in the second quarter. Evergreen Capital Management LLC now owns 9,407 shares of the transportation company’s stock valued at $380,000 after buying an additional 1,435 shares in the last quarter. Marshall Wace LLP raised its stake in Alaska Air Group by 678.5% in the second quarter. Marshall Wace LLP now owns 105,876 shares of the transportation company’s stock valued at $4,277,000 after buying an additional 92,276 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Alaska Air Group during the second quarter worth about $189,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.