Alaska Air Group (NYSE:ALK) Upgraded at Melius

Melius upgraded shares of Alaska Air Group (NYSE:ALK) from a hold rating to a buy rating in a report issued on Monday morning, MarketBeat.com reports. Melius currently has $56.00 target price on the transportation company’s stock.

Several other research firms have also recently issued reports on ALK. Susquehanna raised their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Barclays assumed coverage on shares of Alaska Air Group in a report on Monday, October 21st. They set an “overweight” rating and a $55.00 price target for the company. Evercore ISI decreased their price objective on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Bank of America lifted their target price on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, TD Cowen decreased their price target on 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. Three research analysts have rated the stock with a hold rating and eleven have issued 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 target price of $54.17.

Alaska Air Group Stock Performance

NYSE ALK opened at $47.27 on Monday. 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 stock’s fifty day moving average is $41.66 and its two-hundred day moving average is $40.75. The firm has a market capitalization of $6.00 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 0.66 and a beta of 1.60. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $47.46.

Institutional Trading of Alaska Air Group

Several hedge funds have recently modified their holdings of ALK. QRG Capital Management Inc. raised its position in Alaska Air Group by 2.7% in the 3rd quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock valued at $419,000 after purchasing an additional 242 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in Alaska Air Group by 4.7% in the third quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock worth $268,000 after acquiring an additional 267 shares during the last quarter. William Blair Investment Management LLC grew its holdings in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Alaska Air Group by 5.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,063 shares of the transportation company’s stock valued at $326,000 after purchasing an additional 439 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Alaska Air Group by 0.8% in the 1st quarter. Swiss National Bank now owns 63,200 shares of the transportation company’s stock valued at $2,717,000 after purchasing an additional 500 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.