Alaska Air Group (NYSE:ALK) Price Target Raised to $65.00 at TD Cowen

Alaska Air Group (NYSE:ALK) had its price target hoisted by equities researchers at TD Cowen from $61.00 to $65.00 in a research note issued to investors on Monday. The firm presently has a “buy” rating on the transportation company’s stock. TD Cowen’s price objective points to a potential upside of 55.95% from the company’s current price.

ALK has been the subject of a number of other research reports. Barclays upped their price target on Alaska Air Group from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Susquehanna set a $58.00 price target on Alaska Air Group and gave the stock a “positive” rating in a report on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Alaska Air Group in a report on Wednesday, October 8th. Raymond James Financial set a $65.00 price objective on Alaska Air Group and gave the company an “outperform” rating in a research note on Monday, October 27th. Finally, Zacks Research downgraded Alaska Air Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 8th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.08.

Alaska Air Group Stock Up 2.4%

NYSE ALK opened at $41.68 on Monday. The stock has a market cap of $4.81 billion, a PE ratio of 33.61, a P/E/G ratio of 0.80 and a beta of 1.40. Alaska Air Group has a fifty-two week low of $39.79 and a fifty-two week high of $78.08. The business has a 50 day moving average price of $53.42 and a two-hundred day moving average price of $51.80. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 1.12.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, October 23rd. The transportation company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.06). The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Alaska Air Group had a return on equity of 8.93% and a net margin of 1.06%.The firm’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.25 EPS. As a group, sell-side analysts predict that Alaska Air Group will post 6.03 EPS for the current fiscal year.

Insider Activity at Alaska Air Group

In other news, CFO Shane R. Tackett sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $57.06, for a total transaction of $285,300.00. Following the completion of the transaction, the chief financial officer directly owned 43,335 shares in the company, valued at approximately $2,472,695.10. This represents a 10.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kyle B. Levine sold 5,914 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $57.75, for a total value of $341,533.50. Following the transaction, the senior vice president owned 20,917 shares of the company’s stock, valued at approximately $1,207,956.75. This trade represents a 22.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Alaska Air Group

Several large investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC lifted its stake in Alaska Air Group by 4.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 30,312 shares of the transportation company’s stock worth $1,509,000 after purchasing an additional 1,159 shares during the last quarter. Cheviot Value Management LLC bought a new position in Alaska Air Group during the third quarter worth $468,000. CIBC Asset Management Inc bought a new position in Alaska Air Group during the third quarter worth $201,000. Y Intercept Hong Kong Ltd lifted its stake in Alaska Air Group by 303.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 128,423 shares of the transportation company’s stock worth $6,393,000 after purchasing an additional 96,558 shares during the last quarter. Finally, Westfuller Advisors LLC bought a new position in Alaska Air Group during the third quarter worth $129,000. 81.90% of the stock is currently owned by 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.