Alaska Air Group (NYSE:ALK) PT Raised to $56.00 at Bank of America

Alaska Air Group (NYSE:ALK) had its price objective upped by Bank of America from $50.00 to $56.00 in a research report sent to investors on Friday morning, Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

Other equities analysts also recently issued research reports about the company. StockNews.com downgraded Alaska Air Group from a hold rating to a sell rating in a research report on Tuesday, April 9th. Melius downgraded shares of Alaska Air Group from a buy rating to a hold rating in a research report on Monday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of Alaska Air Group from a hold rating to a buy rating and upped their price target for the stock from $44.00 to $51.00 in a research report on Tuesday, February 20th. UBS Group began coverage on shares of Alaska Air Group in a report on Wednesday, March 20th. They set a buy rating and a $54.00 price objective on the stock. Finally, TD Cowen boosted their price objective on shares of Alaska Air Group from $41.00 to $49.00 and gave the stock a buy rating in a research note on Friday, April 5th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $57.85.

Alaska Air Group Trading Up 1.2 %

NYSE ALK opened at $45.53 on Friday. The stock has a market cap of $5.73 billion, a PE ratio of 24.35, a PEG ratio of 0.90 and a beta of 1.63. Alaska Air Group has a 12 month low of $30.75 and a 12 month high of $57.18. The company’s 50-day moving average price is $39.84 and its 200-day moving average price is $37.31. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 0.85.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, April 18th. The transportation company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.17. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.18 billion. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted ($0.62) earnings per share. Equities research analysts forecast that Alaska Air Group will post 4.41 earnings per share for the current year.

Insider Buying and Selling at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 6,500 shares of Alaska Air Group stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total value of $249,340.00. Following the completion of the sale, the executive vice president now directly owns 26,048 shares in the company, valued at approximately $999,201.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is currently owned by company insiders.

Institutional Trading of Alaska Air Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CVA Family Office LLC raised its stake in shares of Alaska Air Group by 17.1% in the first quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock worth $96,000 after purchasing an additional 325 shares during the last quarter. Verdence Capital Advisors LLC raised its position in Alaska Air Group by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,663 shares of the transportation company’s stock worth $284,000 after buying an additional 327 shares during the last quarter. Aspire Capital Advisors LLC boosted its holdings in shares of Alaska Air Group by 3.3% in the 3rd quarter. Aspire Capital Advisors LLC now owns 10,847 shares of the transportation company’s stock valued at $402,000 after acquiring an additional 350 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Alaska Air Group by 14.2% in the fourth quarter. Blue Trust Inc. now owns 2,868 shares of the transportation company’s stock worth $106,000 after acquiring an additional 357 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Alaska Air Group by 2.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,189 shares of the transportation company’s stock worth $674,000 after purchasing an additional 365 shares during the last quarter. Institutional investors and hedge funds 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.