Alaska Air Group (NYSE:ALK) Raised to Outperform at Wolfe Research

Wolfe Research upgraded shares of Alaska Air Group (NYSE:ALKFree Report) from a peer perform rating to an outperform rating in a research report released on Friday morning, Marketbeat reports. They currently have $55.00 target price on the transportation company’s stock.

Several other research analysts also recently weighed in on ALK. Bank of America boosted their price target on Alaska Air Group from $50.00 to $56.00 and gave the company a buy rating in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft upgraded Alaska Air Group from a hold rating to a buy rating and boosted their price target for the company from $44.00 to $51.00 in a report on Tuesday, February 20th. Evercore ISI boosted their price objective on shares of Alaska Air Group from $55.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, April 4th. Susquehanna boosted their price objective on shares of Alaska Air Group from $40.00 to $42.00 and gave the company a neutral rating in a research note on Friday, April 19th. Finally, StockNews.com raised shares of Alaska Air Group from a sell rating to a hold rating in a research note on Friday, April 19th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Alaska Air Group presently has an average rating of Moderate Buy and a consensus price target of $56.60.

Read Our Latest Stock Report on Alaska Air Group

Alaska Air Group Trading Up 1.4 %

Shares of Alaska Air Group stock opened at $43.88 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.63. Alaska Air Group has a 1 year low of $30.75 and a 1 year high of $57.18. The company has a market capitalization of $5.57 billion, a P/E ratio of 23.47, a P/E/G ratio of 0.58 and a beta of 1.60. The business has a 50 day moving average price of $42.21 and a 200 day moving average price of $38.82.

Alaska Air Group (NYSE:ALKGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.09) by $0.17. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.18 billion. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.62) EPS. Sell-side analysts anticipate that Alaska Air Group will post 4.68 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Alaska Air Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALK. Massmutual Trust Co. FSB ADV increased its holdings in Alaska Air Group by 215.8% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 761 shares of the transportation company’s stock worth $30,000 after purchasing an additional 520 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its position in Alaska Air Group by 255.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 775 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 557 shares during the period. Itau Unibanco Holding S.A. grew its position in shares of Alaska Air Group by 456.1% during the third quarter. Itau Unibanco Holding S.A. now owns 912 shares of the transportation company’s stock worth $34,000 after acquiring an additional 748 shares during the last quarter. Principal Securities Inc. bought a new position in Alaska Air Group in the 4th quarter worth about $39,000. Finally, Allworth Financial LP increased its position in Alaska Air Group by 63.4% in the 3rd quarter. Allworth Financial LP now owns 1,297 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 503 shares during the period. 81.90% of the stock is owned by hedge funds and other institutional investors.

About Alaska Air Group

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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