Alaska Air Group (NYSE:ALK) Price Target Raised to $52.00 at TD Cowen

Alaska Air Group (NYSE:ALK) had its target price raised by TD Cowen from $51.00 to $52.00 in a research report report published on Friday morning, Benzinga reports. TD Cowen currently has a buy rating on the transportation company’s stock.

Other analysts have also issued research reports about the stock. Morgan Stanley cut their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an overweight rating on the stock in a research report on Monday, July 22nd. Wolfe Research upgraded Alaska Air Group from a peer perform rating to an outperform rating and set a $55.00 price target for the company in a research note on Friday, May 17th. Citigroup reduced their price objective on Alaska Air Group from $51.00 to $48.00 and set a buy rating on the stock in a research report on Thursday, August 29th. Finally, Susquehanna dropped their target price on Alaska Air Group from $42.00 to $41.00 and set a neutral rating for the company in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $54.00.

Alaska Air Group Price Performance

Shares of ALK stock opened at $41.64 on Friday. The business has a fifty day simple moving average of $36.88 and a 200 day simple moving average of $39.81. The company has a market cap of $5.25 billion, a P/E ratio of 22.27, a P/E/G ratio of 0.60 and a beta of 1.59. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. Alaska Air Group has a twelve month low of $30.75 and a twelve month high of $46.15.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.36 by $0.19. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the firm earned $3.00 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts forecast that Alaska Air Group will post 4.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Alaska Air Group

A number of hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new stake in Alaska Air Group in the second quarter valued at approximately $28,000. Principal Securities Inc. acquired a new position in shares of Alaska Air Group in the 4th quarter worth approximately $39,000. LifeSteps Financial Inc. bought a new stake in shares of Alaska Air Group in the 1st quarter valued at $65,000. Parallel Advisors LLC boosted its stake in shares of Alaska Air Group by 28.4% in the 4th quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock valued at $66,000 after purchasing an additional 373 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Alaska Air Group during the second quarter worth $69,000. 81.90% of the stock is currently owned by institutional investors.

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.