TD Cowen Increases Alaska Air Group (NYSE:ALK) Price Target to $78.00

Alaska Air Group (NYSE:ALK) had its price objective lifted by equities researchers at TD Cowen from $68.00 to $78.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price would suggest a potential upside of 22.99% from the company’s previous close.

Several other research analysts also recently issued reports on the company. 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 note on Friday, September 13th. Melius Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, October 28th. Barclays raised their price target 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. Citigroup reduced their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Morgan Stanley raised their target price on Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Alaska Air Group has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Alaska Air Group Stock Performance

Shares of Alaska Air Group stock opened at $63.42 on Wednesday. The company’s 50 day moving average price is $50.11 and its two-hundred day moving average price is $42.87. The firm has a market capitalization of $8.05 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.23 and a beta of 1.60. 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 has a fifty-two week low of $32.62 and a fifty-two week high of $65.62.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the business posted $1.83 EPS. Alaska Air Group’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts forecast that Alaska Air Group will post 4.26 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Andrew R. Harrison sold 13,880 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $64.01, for a total transaction of $888,458.80. Following the completion of the sale, the executive vice president now owns 20,638 shares of the company’s stock, valued at $1,321,038.38. This trade represents a 40.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Shane R. Tackett sold 5,000 shares of Alaska Air Group stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $63.56, for a total transaction of $317,800.00. Following the completion of the sale, the chief financial officer now owns 27,362 shares of the company’s stock, valued at $1,739,128.72. This represents a 15.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,580 shares of company stock valued at $1,441,209 in the last ninety days. 0.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alaska Air Group

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

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.