Barclays Increases Alaska Air Group (NYSE:ALK) Price Target to $80.00

Alaska Air Group (NYSE:ALK) had its price objective increased by investment analysts at Barclays from $55.00 to $80.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Barclays‘s price target indicates a potential upside of 48.26% from the stock’s current price.

A number of other analysts have also commented on the company. Bank of America raised their price target on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Evercore ISI dropped their price target on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Monday, October 28th. TD Cowen dropped their price target on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, 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. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.31.

Alaska Air Group Stock Up 2.0 %

Shares of Alaska Air Group stock opened at $53.96 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. Alaska Air Group has a 52-week low of $32.00 and a 52-week high of $54.01. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 1.17 and a beta of 1.59. The company’s 50 day moving average price is $45.18 and its 200-day moving average price is $41.35.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping 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 company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the firm posted $1.83 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that Alaska Air Group will post 4.26 EPS for the current year.

Hedge Funds Weigh In On Alaska Air Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in shares of Alaska Air Group by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock valued at $262,789,000 after acquiring an additional 357,907 shares in the last quarter. Boston Partners increased its holdings in Alaska Air Group by 4.1% in the 1st quarter. Boston Partners now owns 3,966,594 shares of the transportation company’s stock worth $170,533,000 after buying an additional 155,403 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Alaska Air Group by 8.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock worth $119,960,000 after buying an additional 220,030 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Alaska Air Group by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company’s stock worth $72,054,000 after buying an additional 6,977 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Alaska Air Group by 8.3% in the 2nd quarter. American Century Companies Inc. now owns 1,590,078 shares of the transportation company’s stock worth $64,239,000 after buying an additional 122,325 shares in the last quarter. 81.90% of the stock is currently owned by 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.