TD Cowen Boosts Alaska Air Group (NYSE:ALK) Price Target to $58.00

Alaska Air Group (NYSE:ALK) had its target price hoisted by TD Cowen from $49.00 to $58.00 in a report released on Friday morning, Marketbeat reports. The firm currently has a buy rating on the transportation company’s stock.

Several other brokerages also recently weighed in on ALK. Bank of America increased their price target on shares of Alaska Air Group from $50.00 to $56.00 and gave the stock a buy rating in a report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Alaska Air Group from a hold rating to a buy rating and increased their price target for the stock from $44.00 to $51.00 in a report on Tuesday, February 20th. StockNews.com downgraded shares of Alaska Air Group from a hold rating to a sell rating in a report on Tuesday, April 9th. UBS Group initiated coverage on shares of Alaska Air Group in a report on Wednesday, March 20th. They issued a buy rating and a $54.00 price target on the stock. Finally, Susquehanna lowered Alaska Air Group from a positive rating to a neutral rating and upped their price objective for the stock from $39.00 to $40.00 in a research report on Wednesday, January 10th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $57.85.

Alaska Air Group Stock Performance

ALK opened at $45.01 on Friday. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $57.18. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 0.85. The company has a market cap of $5.66 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 0.90 and a beta of 1.63. The firm’s 50-day moving average price is $39.68 and its 200-day moving average price is $37.24.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.09) by $0.17. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the company posted ($0.62) earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Alaska Air Group will post 4.41 EPS for the current fiscal year.

Insider Activity

In other news, EVP Andrew R. Harrison sold 6,500 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the transaction, the executive vice president now owns 26,048 shares in the company, valued at approximately $999,201.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd lifted its position in shares of Alaska Air Group by 416.4% during the 1st quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock valued at $33,000 after buying an additional 458 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Alaska Air Group by 215.8% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 761 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 520 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Alaska Air Group by 255.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 775 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 557 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Alaska Air Group by 456.1% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 912 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 748 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in Alaska Air Group in the 4th quarter valued at $39,000. 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.