Barclays Begins Coverage on Alaska Air Group (NYSE:ALK)

Barclays assumed coverage on shares of Alaska Air Group (NYSE:ALK) in a report issued on Monday, Marketbeat.com reports. The firm issued an overweight rating and a $55.00 price target on the transportation company’s stock.

Other analysts have also issued reports about the stock. Citigroup reduced 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 note on Thursday, August 29th. Bank of America upped their price objective on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 13th. Morgan Stanley lowered their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Evercore ISI cut their price target on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Finally, TD Cowen lowered their price objective on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.80.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $46.05 on Monday. The stock has a market cap of $5.84 billion, a P/E ratio of 24.63, a P/E/G ratio of 0.66 and a beta of 1.60. The firm’s 50-day simple moving average is $39.85 and its 200 day simple moving average is $40.51. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $46.87. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ALK. Jade Capital Advisors LLC lifted its position in shares of Alaska Air Group by 337.5% in the 3rd quarter. Jade Capital Advisors LLC now owns 175,000 shares of the transportation company’s stock valued at $7,912,000 after acquiring an additional 135,000 shares in the last quarter. Blue Trust Inc. raised its stake in Alaska Air Group by 22.6% during the 3rd quarter. Blue Trust Inc. now owns 3,144 shares of the transportation company’s stock valued at $142,000 after purchasing an additional 579 shares during the period. Clarius Group LLC lifted its holdings in shares of Alaska Air Group by 54.0% in the third quarter. Clarius Group LLC now owns 31,304 shares of the transportation company’s stock valued at $1,415,000 after purchasing an additional 10,982 shares in the last quarter. CWM LLC boosted its position in shares of Alaska Air Group by 224.4% in the third quarter. CWM LLC now owns 14,285 shares of the transportation company’s stock worth $646,000 after buying an additional 9,882 shares during the period. Finally, Pacifica Partners Inc. grew its holdings in shares of Alaska Air Group by 952.4% during the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after buying an additional 1,000 shares in the last quarter. 81.90% of the stock is owned by hedge funds and other 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.