Alaska Air Group (NYSE:ALK) PT Raised to $52.00 at TD Cowen

Alaska Air Group (NYSE:ALK) had its target price hoisted by equities research analysts at TD Cowen from $51.00 to $52.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price indicates a potential upside of 24.88% from the company’s previous close.

ALK has been the topic of several other research reports. Wolfe Research upgraded shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 target price on the stock in a report on Friday, May 17th. Citigroup dropped their target price on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Susquehanna dropped their target price on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Finally, Morgan Stanley dropped their target price 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. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $41.64 on Friday. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $46.15. The company has a 50 day simple moving average of $36.88 and a two-hundred day simple moving average of $39.80. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 22.27, a P/E/G 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 (NYSE:ALK) last announced its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.19. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.00 earnings per share. Analysts expect that Alaska Air Group will post 4.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in shares of Alaska Air Group during the 2nd quarter valued at $28,000. Principal Securities Inc. purchased a new position in shares of Alaska Air Group during the 4th quarter valued at $39,000. LifeSteps Financial Inc. purchased a new position in shares of Alaska Air Group during the 1st quarter valued at $65,000. Parallel Advisors LLC lifted its stake 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 buying an additional 373 shares in 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 $69,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

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.