TD Cowen Cuts Alaska Air Group (NYSE:ALK) Price Target to $50.00

Alaska Air Group (NYSE:ALK) had its target price dropped by TD Cowen from $52.00 to $50.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s price target points to a potential upside of 13.17% from the stock’s previous close.

ALK has been the subject of several other research reports. Evercore ISI lowered their price objective on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday. Citigroup decreased their price target on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Susquehanna cut their price objective on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Morgan Stanley lowered their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Bank of America boosted their price objective on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alaska Air Group presently has a consensus rating of “Moderate Buy” and an average target price of $52.91.

Alaska Air Group Stock Down 2.1 %

NYSE ALK opened at $44.18 on Thursday. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $46.15. The firm has a market cap of $5.61 billion, a PE ratio of 23.63, a P/E/G ratio of 0.54 and a beta of 1.59. The business’s fifty day simple moving average is $37.95 and its 200-day simple moving average is $40.23. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.19. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. 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. As a group, equities analysts anticipate that Alaska Air Group will post 4.62 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Alaska Air Group during the 2nd quarter worth approximately $189,000. American Trust raised its position in Alaska Air Group by 17.3% during the 2nd quarter. American Trust now owns 6,562 shares of the transportation company’s stock worth $265,000 after buying an additional 966 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of 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 acquiring an additional 220,030 shares during the period. Creative Planning increased its stake in shares of Alaska Air Group by 5.2% during the second quarter. Creative Planning now owns 51,529 shares of the transportation company’s stock worth $2,082,000 after acquiring an additional 2,538 shares during the period. Finally, MidWestOne Financial Group Inc. lifted its position in Alaska Air Group by 3.5% in the second quarter. MidWestOne Financial Group Inc. now owns 32,887 shares of the transportation company’s stock valued at $1,329,000 after purchasing an additional 1,097 shares during the period. 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.