Alaska Air Group (NYSE:ALK) Trading 4.3% Higher

Alaska Air Group, Inc. (NYSE:ALK)’s share price traded up 4.3% during mid-day trading on Monday . The stock traded as high as $41.88 and last traded at $41.76. 1,447,557 shares changed hands during trading, a decline of 35% from the average session volume of 2,243,870 shares. The stock had previously closed at $40.02.

Analysts Set New Price Targets

ALK has been the topic of a number of analyst reports. Bank of America increased their price target on shares of 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 cut 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. Morgan Stanley decreased their price target on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Susquehanna dropped their price objective on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Finally, TD Cowen lifted their target price on Alaska Air Group from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Alaska Air Group Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. The company has a fifty day moving average price of $37.13 and a two-hundred day moving average price of $39.92. The company has a market cap of $5.29 billion, a P/E ratio of 21.40, a PEG ratio of 0.60 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the firm earned $3.00 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that Alaska Air Group, Inc. will post 4.17 earnings per share for the current fiscal year.

Institutional Trading of Alaska Air Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CVA Family Office LLC increased its stake in shares of 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 last quarter. Parallel Advisors LLC increased its position in Alaska Air Group by 28.4% during the fourth quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock worth $66,000 after buying an additional 373 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in Alaska Air Group by 0.3% in the first quarter. Gateway Investment Advisers LLC now owns 153,403 shares of the transportation company’s stock valued at $6,595,000 after buying an additional 391 shares during the period. QRG Capital Management Inc. lifted its position in shares of Alaska Air Group by 4.7% in the second quarter. QRG Capital Management Inc. now owns 9,029 shares of the transportation company’s stock valued at $365,000 after buying an additional 406 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of 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 acquiring an additional 436 shares during the period. 81.90% of the stock is 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.