Alaska Air Group (NYSE:ALK) PT Lowered to $50.00

Alaska Air Group (NYSE:ALK) had its target price decreased by equities researchers at TD Cowen from $52.00 to $50.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. TD Cowen’s price objective points to a potential upside of 17.70% from the company’s current price.

ALK has been the subject of a number of other reports. Bank of America lifted their price objective on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Citigroup lowered their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Morgan Stanley lowered their price objective on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Susquehanna lowered their price objective on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Finally, Evercore ISI lowered their price objective on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.91.

Alaska Air Group Stock Performance

Shares of NYSE:ALK opened at $42.48 on Thursday. Alaska Air Group has a twelve month low of $30.75 and a twelve month high of $46.15. The firm has a market cap of $5.39 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 0.54 and a beta of 1.60. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. The business has a fifty day moving average of $38.03 and a 200-day moving average of $40.25.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.19. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company posted $3.00 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Alaska Air Group will post 4.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors bought a new position in shares of Alaska Air Group during the 1st quarter valued at about $36,993,000. Frontier Capital Management Co. LLC lifted its holdings in shares of Alaska Air Group by 238.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 869,045 shares of the transportation company’s stock valued at $33,954,000 after purchasing an additional 612,575 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Alaska Air Group by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock valued at $262,789,000 after purchasing an additional 357,907 shares in the last quarter. Mesirow Institutional Investment Management Inc. bought a new position in shares of Alaska Air Group during the 2nd quarter valued at about $11,475,000. Finally, ARGA Investment Management LP bought a new position in shares of Alaska Air Group during the 1st quarter valued at about $9,654,000. Institutional investors 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.