Alaska Air Group (NYSE:ALK) Price Target Cut to $51.00 by Analysts at TD Cowen

Alaska Air Group (NYSE:ALK) had its target price decreased by TD Cowen from $58.00 to $51.00 in a research report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s price objective points to a potential upside of 31.89% from the stock’s current price.

Several other research firms have also issued reports on ALK. Bank of America increased their target price on shares of Alaska Air Group from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Susquehanna reduced their price objective on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Evercore ISI lifted their target price 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. Wolfe Research upgraded Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 price target for the company in a research note on Friday, May 17th. Finally, Morgan Stanley lowered their price objective on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.60.

Alaska Air Group Stock Up 2.2 %

Shares of ALK stock opened at $38.67 on Wednesday. The company has a 50 day simple moving average of $40.51 and a two-hundred day simple moving average of $39.86. The stock has a market cap of $4.91 billion, a P/E ratio of 20.68, a P/E/G ratio of 0.69 and a beta of 1.60. Alaska Air Group has a 12 month low of $30.75 and a 12 month high of $48.71. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 0.57.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.19. Alaska Air Group had a return on equity of 11.97% and a net margin of 2.14%. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the firm earned $3.00 EPS. Alaska Air Group’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts expect that Alaska Air Group will post 4.16 earnings per share for the current year.

Institutional Trading of Alaska Air Group

Hedge funds have recently modified their holdings of the company. Jade Capital Advisors LLC purchased a new stake in Alaska Air Group during the fourth quarter valued at $1,954,000. Pinebridge Investments L.P. purchased a new stake in shares of Alaska Air Group during the 4th quarter valued at about $1,144,000. International Assets Investment Management LLC lifted its holdings in shares of Alaska Air Group by 1,676.8% in the 4th quarter. International Assets Investment Management LLC now owns 149,089 shares of the transportation company’s stock valued at $58,250,000 after acquiring an additional 140,698 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Alaska Air Group in the fourth quarter worth about $2,813,000. Finally, Boston Partners increased its stake in Alaska Air Group by 64.6% during the fourth quarter. Boston Partners now owns 3,811,191 shares of the transportation company’s stock worth $148,861,000 after acquiring an additional 1,495,311 shares during the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

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.