TD Cowen Raises Alaska Air Group (NYSE:ALK) Price Target to $52.00

Alaska Air Group (NYSE:ALK) had its target price lifted by TD Cowen from $51.00 to $52.00 in a research report sent to investors on Friday morning, Benzinga reports. TD Cowen currently has a buy rating on the transportation company’s stock.

ALK has been the topic of a number of other reports. Wolfe Research upgraded Alaska Air Group from a peer perform rating to an outperform rating and set a $55.00 price objective on the stock in a research note on Friday, May 17th. Citigroup decreased their price target on Alaska Air Group from $51.00 to $48.00 and set a buy rating on the stock in a research report on Thursday, August 29th. Morgan Stanley lowered their price target on shares of Alaska Air Group from $75.00 to $70.00 and set an overweight rating on the stock in a report on Monday, July 22nd. Finally, 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. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alaska Air Group presently has a consensus rating of Moderate Buy and a consensus target price of $54.00.

Alaska Air Group Stock Performance

NYSE ALK opened at $41.35 on Friday. The company has a market capitalization of $5.25 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 0.60 and a beta of 1.59. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $46.15. The company has a 50-day simple moving average of $36.94 and a 200 day simple moving average of $39.84.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data 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. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.94 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.00 EPS. On average, research analysts predict that Alaska Air Group will post 4.17 EPS for the current year.

Hedge Funds Weigh In On Alaska Air Group

A number of institutional investors have recently made changes to their positions in ALK. Altshuler Shaham Ltd purchased a new position in Alaska Air Group in the second quarter worth $28,000. Principal Securities Inc. bought a new stake in Alaska Air Group during the fourth quarter worth about $39,000. LifeSteps Financial Inc. purchased a new position in shares of Alaska Air Group in the 1st quarter worth about $65,000. Parallel Advisors LLC increased its position in shares of 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 purchasing an additional 373 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Alaska Air Group during the 2nd quarter valued at about $69,000. 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.