JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Alaska Air Group (NYSE:ALK) Stock

Alaska Air Group (NYSE:ALK) had its target price lifted by JPMorgan Chase & Co. from $58.00 to $85.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $70.00 target price on shares of Alaska Air Group in a research report on Friday, November 15th. UBS Group restated a “buy” rating and set a $72.00 price objective on shares of Alaska Air Group in a report on Tuesday, November 26th. Barclays raised their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Morgan Stanley boosted their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Susquehanna upped their price target on shares of Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.00.

Alaska Air Group Stock Performance

NYSE:ALK opened at $62.59 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average of $50.51 and a 200-day moving average of $43.01. Alaska Air Group has a twelve month low of $32.62 and a twelve month high of $65.62. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $1.83 earnings per share. Analysts forecast that Alaska Air Group will post 4.3 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Shane R. Tackett sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $63.56, for a total transaction of $317,800.00. Following the transaction, the chief financial officer now owns 27,362 shares of the company’s stock, valued at approximately $1,739,128.72. This trade represents a 15.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Muehlen Constance E. Von sold 4,000 shares of Alaska Air Group stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $63.09, for a total transaction of $252,360.00. Following the completion of the sale, the chief operating officer now owns 12,162 shares of the company’s stock, valued at $767,300.58. This trade represents a 24.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,580 shares of company stock worth $1,693,569 in the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in Alaska Air Group in the second quarter worth $28,000. Pacific Center for Financial Services bought a new stake in shares of Alaska Air Group during the 3rd quarter worth about $45,000. Venturi Wealth Management LLC boosted its stake in shares of Alaska Air Group by 86.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after acquiring an additional 474 shares in the last quarter. Pacifica Partners Inc. increased its holdings in shares of Alaska Air Group by 952.4% during the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 1,000 shares during the last quarter. Finally, True Wealth Design LLC bought a new position in shares of Alaska Air Group in the 3rd quarter valued at approximately $52,000. 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.