Brokerages Set Alaska Air Group, Inc. (NYSE:ALK) PT at $57.85

Alaska Air Group, Inc. (NYSE:ALK) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $57.85.

A number of equities analysts have issued reports on ALK shares. TD Cowen increased their price target on Alaska Air Group from $49.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, April 19th. StockNews.com upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Evercore ISI boosted their target price on Alaska Air Group from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Bank of America raised their price objective on Alaska Air Group from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft raised Alaska Air Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $44.00 to $51.00 in a research report on Tuesday, February 20th.

Alaska Air Group Stock Up 2.7 %

Shares of NYSE ALK opened at $43.85 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 debt-to-equity ratio of 0.85, a quick ratio of 0.63 and a current ratio of 0.65. The company’s 50 day moving average price is $40.83 and its 200-day moving average price is $37.91. The company has a market capitalization of $5.52 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 0.57 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.09) by $0.17. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the company posted ($0.62) EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. Equities analysts forecast that Alaska Air Group will post 4.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Andrew R. Harrison sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total transaction of $249,340.00. Following the transaction, the executive vice president now directly owns 26,048 shares of the company’s stock, valued at $999,201.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Alaska Air Group

Several hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in Alaska Air Group by 1,676.8% during the fourth quarter. International Assets Investment Management LLC now owns 149,089 shares of the transportation company’s stock worth $58,250,000 after acquiring an additional 140,698 shares during the period. Wellington Management Group LLP raised its stake in shares of Alaska Air Group by 16.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,554,257 shares of the transportation company’s stock worth $94,712,000 after purchasing an additional 358,749 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Alaska Air Group in the 4th quarter worth about $2,813,000. Bank of New York Mellon Corp grew its position in Alaska Air Group by 6.3% during the third quarter. Bank of New York Mellon Corp now owns 1,213,630 shares of the transportation company’s stock valued at $45,001,000 after buying an additional 71,726 shares during the period. Finally, Deutsche Bank AG increased its holdings in Alaska Air Group by 63.4% during the third quarter. Deutsche Bank AG now owns 366,619 shares of the transportation company’s stock worth $13,594,000 after buying an additional 142,310 shares during the last quarter. Institutional investors own 81.90% of the company’s stock.

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.