Citigroup Increases Alaska Air Group (NYSE:ALK) Price Target to $74.00

Alaska Air Group (NYSE:ALK) had its price target upped by analysts at Citigroup from $63.00 to $74.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Citigroup’s price target would indicate a potential upside of 17.09% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Monday, October 28th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $70.00 price objective on shares of Alaska Air Group in a research report on Friday, November 15th. JPMorgan Chase & Co. boosted their target price on Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Barclays raised their price target on Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Susquehanna upped their price target on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alaska Air Group currently has an average rating of “Moderate Buy” and a consensus target price of $65.86.

Alaska Air Group Trading Down 0.3 %

ALK opened at $63.20 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. Alaska Air Group has a 52 week low of $32.62 and a 52 week high of $65.62. The stock has a market cap of $8.02 billion, a PE ratio of 25.48, a PEG ratio of 1.24 and a beta of 1.60. The business has a 50 day moving average of $51.34 and a 200-day moving average of $43.34.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.22 by $0.03. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 earnings per share. Equities research analysts predict that Alaska Air Group will post 4.3 earnings per share for the current fiscal year.

Insider Transactions at Alaska Air Group

In other news, COO Muehlen Constance E. Von sold 4,000 shares of Alaska Air Group stock in a transaction on Friday, December 13th. The shares were sold at an average price of $63.09, for a total transaction of $252,360.00. Following the transaction, the chief operating officer now owns 12,162 shares in the company, valued at $767,300.58. This trade represents a 24.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Shane R. Tackett sold 5,000 shares of the business’s 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 sale, the chief financial officer now directly owns 27,362 shares of the company’s stock, valued at approximately $1,739,128.72. The trade was a 15.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,580 shares of company stock worth $1,693,569 in the last ninety days. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd purchased a new position in Alaska Air Group during the second quarter valued at approximately $28,000. Pacific Center for Financial Services purchased a new position in shares of Alaska Air Group during the 3rd quarter valued at $45,000. Venturi Wealth Management LLC boosted its holdings 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 worth $46,000 after buying an additional 474 shares during the period. Pacifica Partners Inc. increased its stake in Alaska Air Group by 952.4% in 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 in the last quarter. Finally, True Wealth Design LLC bought a new stake in Alaska Air Group during the third quarter valued at about $52,000. 81.90% of the stock is currently owned by 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.