Alaska Air Group, Inc. (NYSE:ALK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Alaska Air Group, Inc. (NYSE:ALK) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $54.00.

A number of brokerages have issued reports on ALK. TD Cowen upped their price objective on Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Susquehanna decreased their price objective on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Bank of America upped their price objective on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Citigroup decreased their price objective 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. Finally, Morgan Stanley cut their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd.

Alaska Air Group Price Performance

NYSE:ALK opened at $45.21 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $5.74 billion, a P/E ratio of 24.18, a P/E/G ratio of 0.54 and a beta of 1.59. Alaska Air Group has a 12 month low of $30.75 and a 12 month high of $46.15. The business’s 50-day moving average is $37.68 and its 200 day moving average is $40.16.

Alaska Air Group (NYSE:ALK) last posted 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 11.85% and a net margin of 2.14%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the business earned $3.00 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Alaska Air Group will post 4.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alaska Air Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. CVA Family Office LLC increased its holdings in Alaska Air Group by 17.1% during the 1st quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock worth $96,000 after purchasing an additional 325 shares during the period. Parallel Advisors LLC increased its holdings 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 worth $66,000 after purchasing an additional 373 shares during the period. Gateway Investment Advisers LLC increased its holdings in Alaska Air Group by 0.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 153,403 shares of the transportation company’s stock worth $6,595,000 after purchasing an additional 391 shares during the period. QRG Capital Management Inc. increased its holdings in Alaska Air Group by 4.7% during the 2nd quarter. QRG Capital Management Inc. now owns 9,029 shares of the transportation company’s stock worth $365,000 after purchasing an additional 406 shares during the period. Finally, William Blair Investment Management LLC increased its holdings in Alaska Air Group by 4.0% during the 1st quarter. William Blair Investment Management LLC now owns 11,470 shares of the transportation company’s stock worth $493,000 after purchasing an additional 436 shares during the period. 81.90% of the stock is currently 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.