Alaska Air Group (NYSE:ALK) Price Target Cut to $51.00

Alaska Air Group (NYSE:ALK) had its price objective decreased by analysts at TD Cowen from $58.00 to $51.00 in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s price objective points to a potential upside of 31.89% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Morgan Stanley reduced their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday. Wolfe Research raised Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 price objective on the stock in a research note on Friday, May 17th. StockNews.com raised shares of Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Evercore ISI lifted their target price on shares of Alaska Air Group from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Susquehanna cut their price target on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.60.

Alaska Air Group Trading Up 2.2 %

NYSE ALK opened at $38.67 on Wednesday. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $48.71. The company has a 50 day moving average price of $40.51 and a 200 day moving average price of $39.86. The company has a quick ratio of 0.63, a current ratio of 0.65 and a debt-to-equity ratio of 0.57. The firm has a market cap of $4.91 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 0.69 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.19. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.97%. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company earned $3.00 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Alaska Air Group will post 4.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Alaska Air Group

Large investors have recently bought and sold shares of the business. Principal Securities Inc. acquired a new position in shares of Alaska Air Group during the 4th quarter worth about $39,000. LifeSteps Financial Inc. acquired a new position in Alaska Air Group in the first quarter valued at approximately $65,000. Parallel Advisors LLC increased its stake in Alaska Air Group by 28.4% in the fourth 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. GAMMA Investing LLC acquired a new stake in Alaska Air Group during the fourth quarter worth approximately $67,000. Finally, CVA Family Office LLC acquired a new stake in Alaska Air Group during the fourth quarter worth approximately $74,000. Hedge funds and other 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.