Alaska Air Group, Inc. (NYSE:ALK) Given Average Recommendation of “Buy” by Brokerages

Shares of Alaska Air Group, Inc. (NYSE:ALK) have received a consensus rating of “Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $69.7273.

Several equities analysts have recently issued reports on ALK shares. Cantor Fitzgerald set a $65.00 price objective on Alaska Air Group in a research note on Monday, November 3rd. Raymond James Financial reiterated an “outperform” rating and issued a $71.00 price target on shares of Alaska Air Group in a research note on Friday, December 19th. TD Cowen boosted their price target on shares of Alaska Air Group from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Citigroup assumed coverage on shares of Alaska Air Group in a report on Thursday, December 4th. They issued a “buy” rating and a $61.00 price objective on the stock. Finally, Wall Street Zen cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $50.22 on Thursday. 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 has a 52-week low of $37.63 and a 52-week high of $78.08. The firm has a market cap of $5.83 billion, a PE ratio of 40.50, a price-to-earnings-growth ratio of 1.17 and a beta of 1.24. The company’s 50 day moving average is $45.42 and its two-hundred day moving average is $50.72.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data 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 for 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 period in the prior year, the company posted $2.25 EPS. On average, research analysts expect that Alaska Air Group will post 6.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in Alaska Air Group by 249.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,638,464 shares of the transportation company’s stock valued at $129,865,000 after purchasing an additional 1,882,598 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Alaska Air Group by 1,563.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,092,368 shares of the transportation company’s stock valued at $54,378,000 after buying an additional 1,026,710 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Alaska Air Group in the 3rd quarter valued at $48,583,000. William Blair Investment Management LLC raised its stake in Alaska Air Group by 13,557.0% during the 2nd quarter. William Blair Investment Management LLC now owns 625,764 shares of the transportation company’s stock worth $30,963,000 after acquiring an additional 621,182 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Alaska Air Group by 2,880.4% in the second quarter. Assenagon Asset Management S.A. now owns 624,035 shares of the transportation company’s stock valued at $30,877,000 after acquiring an additional 603,097 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

About Alaska Air Group

Alaska Air Group is a publicly traded holding company headquartered in Seattle, Washington, that operates two main airlines—Alaska Airlines and Horizon Air. Through these carriers, the company offers scheduled passenger and cargo services across a network spanning the United States, Canada and Mexico. Its core business activities include domestic and international air transportation, loyalty program management under the Mileage Plan brand, and ancillary revenue streams such as baggage fees, in-flight sales and code-share partnerships with other global airlines.

The roots of Alaska Air Group trace back to the foundation of its flagship carrier, Alaska Airlines, in 1932.