Alaska Air Group (NYSE:ALK) Price Target Lowered to $55.00 at Evercore ISI

Alaska Air Group (NYSE:ALK) had its price objective decreased by investment analysts at Evercore ISI from $60.00 to $55.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the transportation company’s stock. Evercore ISI’s price target suggests a potential upside of 24.49% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Citigroup cut 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. Susquehanna reduced their price target on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Morgan Stanley cut their target price 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. Bank of America lifted their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, TD Cowen lifted their price target on Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.91.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $44.18 on Thursday. Alaska Air Group has a 12-month low of $30.75 and a 12-month high of $46.15. 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 current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. The company has a market cap of $5.61 billion, a PE ratio of 23.63, a PEG ratio of 0.54 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.19. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the business earned $3.00 EPS. Alaska Air Group’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts expect that Alaska Air Group will post 4.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new position in shares of Alaska Air Group in the second quarter valued at approximately $28,000. LifeSteps Financial Inc. acquired a new position in Alaska Air Group in the first quarter valued at $65,000. Parallel Advisors LLC boosted its position in shares of Alaska Air Group by 28.4% in the 4th quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock valued at $66,000 after purchasing an additional 373 shares during the period. Canada Pension Plan Investment Board acquired a new position in Alaska Air Group during the second quarter worth approximately $69,000. Finally, Halpern Financial Inc. purchased a new position in shares of Alaska Air Group during the second quarter worth approximately $81,000. 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.