Alaska Air Group (NYSE:ALK) Receives Buy Rating from The Goldman Sachs Group

Alaska Air Group (NYSE:ALK)‘s stock had its “buy” rating reaffirmed by analysts at The Goldman Sachs Group in a research note issued on Friday, Marketbeat Ratings reports. They currently have a $70.00 price target on the transportation company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 29.73% from the company’s previous close.

Several other analysts have also issued reports on ALK. Bank of America upped their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Susquehanna lifted their price target on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Monday, October 28th. Morgan Stanley decreased their target price 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. Finally, Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.31.

Alaska Air Group Price Performance

Shares of Alaska Air Group stock opened at $53.96 on Friday. The firm has a market capitalization of $6.85 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. Alaska Air Group has a 12 month low of $32.00 and a 12 month high of $54.01. The business’s 50-day moving average price is $45.18 and its 200-day moving average price is $41.34.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $1.83 earnings per share. Sell-side analysts forecast that Alaska Air Group will post 4.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Alaska Air Group

Several hedge funds and other institutional investors have recently modified their holdings of ALK. Capital Research Global Investors bought a new stake in Alaska Air Group during the 1st quarter valued at approximately $36,993,000. Assenagon Asset Management S.A. lifted its stake in shares of Alaska Air Group by 2,087.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock valued at $34,490,000 after purchasing an additional 728,019 shares during the period. Wellington Management Group LLP bought a new stake in shares of Alaska Air Group during the third quarter valued at approximately $26,390,000. Charles Schwab Investment Management Inc. grew its stake in Alaska Air Group by 45.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock worth $64,300,000 after purchasing an additional 442,331 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Alaska Air Group by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock worth $262,789,000 after purchasing an additional 357,907 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.

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.