Alaska Air Group (NYSE:ALK) Price Target Raised to $74.00

Alaska Air Group (NYSE:ALK) had its target price increased by Citigroup from $63.00 to $74.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

ALK has been the subject of several other research reports. Barclays boosted their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upped their price objective on shares of Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. UBS Group reaffirmed a “buy” rating and issued a $72.00 target price on shares of Alaska Air Group in a research note on Tuesday, November 26th. TD Cowen increased their price target on Alaska Air Group from $68.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Alaska Air Group in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.86.

Alaska Air Group Stock Down 1.2 %

Shares of NYSE ALK opened at $62.44 on Monday. The firm’s 50-day moving average is $51.73 and its two-hundred day moving average is $43.47. The company has a market capitalization of $7.93 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. Alaska Air Group has a 12-month low of $32.62 and a 12-month high of $65.62. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57.

Alaska Air Group (NYSE:ALK) last announced its 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. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the firm earned $1.83 EPS. Alaska Air Group’s quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts anticipate that Alaska Air Group will post 4.3 EPS for the current fiscal year.

Insider Buying and Selling at Alaska Air Group

In other news, SVP Andrea L. Schneider sold 3,700 shares of Alaska Air Group stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $63.50, for a total transaction of $234,950.00. Following the sale, the senior vice president now owns 21,086 shares in the company, valued at $1,338,961. This trade represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Muehlen Constance E. Von sold 4,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $63.09, for a total transaction of $252,360.00. Following the completion of the transaction, the chief operating officer now owns 12,162 shares of the company’s stock, valued at $767,300.58. This trade represents a 24.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,019 shares of company stock valued at $1,911,945 over the last three months. 0.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alaska Air Group

Several hedge funds and other institutional investors have recently bought and sold shares of ALK. Altshuler Shaham Ltd purchased a new position in shares of Alaska Air Group during the 2nd quarter valued at approximately $28,000. Pacific Center for Financial Services bought a new position in Alaska Air Group during the 3rd quarter valued at $45,000. Venturi Wealth Management LLC grew its holdings in Alaska Air Group by 86.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after acquiring an additional 474 shares in the last quarter. Pacifica Partners Inc. increased its position in shares of Alaska Air Group by 952.4% in the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after purchasing an additional 1,000 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of Alaska Air Group in the 3rd quarter valued at about $52,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

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.