Alaska Air Group, Inc. (NYSE:ALK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Alaska Air Group, Inc. (NYSE:ALK) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $54.00.

Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price target on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Susquehanna lowered their price target on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. TD Cowen decreased their price objective on shares of Alaska Air Group from $58.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Wolfe Research raised shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research note on Friday, May 17th. Finally, Citigroup reduced their price target on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, August 29th.

Institutional Trading of Alaska Air Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in Alaska Air Group during the second quarter worth about $28,000. Principal Securities Inc. bought a new stake in shares of Alaska Air Group in the 4th quarter worth approximately $39,000. LifeSteps Financial Inc. purchased a new stake in shares of Alaska Air Group in the 1st quarter worth approximately $65,000. Parallel Advisors LLC increased its position in Alaska Air Group by 28.4% during the 4th quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock valued at $66,000 after buying an additional 373 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Alaska Air Group during the second quarter valued at $69,000. 81.90% of the stock is owned by hedge funds and other institutional investors.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $39.80 on Friday. The stock has a market capitalization of $5.02 billion, a P/E ratio of 21.28, a PEG ratio of 0.70 and a beta of 1.59. Alaska Air Group has a one year low of $30.75 and a one year high of $46.15. The firm’s 50 day simple moving average is $36.84 and its two-hundred day simple moving average is $39.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.66.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.19. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the firm posted $3.00 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts expect that Alaska Air Group will post 4.06 EPS for the current fiscal year.

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.