Alaska Air Group (NYSE:ALK) Price Target Increased to $55.00 by Analysts at Bank of America

Alaska Air Group (NYSE:ALK) had its price target increased by Bank of America from $50.00 to $55.00 in a research report sent to investors on Friday, Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

ALK has been the topic of several other research reports. Susquehanna dropped their target price on shares of Alaska Air Group from $42.00 to $41.00 and set a neutral rating on the stock in a research report on Tuesday, July 16th. TD Cowen boosted their price objective on shares of Alaska Air Group from $51.00 to $52.00 and gave the company a buy rating in a report on Friday. Citigroup cut their target price 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. Wolfe Research raised 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 report on Friday, May 17th. Finally, Morgan Stanley cut their price objective on Alaska Air Group from $75.00 to $70.00 and set an overweight rating on the stock in a report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $54.00.

Alaska Air Group Stock Performance

Shares of ALK opened at $41.64 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. The firm has a market cap of $5.25 billion, a PE ratio of 22.27, a P/E/G ratio of 0.60 and a beta of 1.59. Alaska Air Group has a 12 month low of $30.75 and a 12 month high of $46.15. The stock has a fifty day moving average price of $36.88 and a 200-day moving average price of $39.81.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the business posted $3.00 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts predict that Alaska Air Group will post 4.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new stake in Alaska Air Group during the second quarter valued at $28,000. Principal Securities Inc. purchased a new position in Alaska Air Group during the fourth quarter valued at $39,000. LifeSteps Financial Inc. acquired a new stake in shares of Alaska Air Group in the first quarter valued at about $65,000. Parallel Advisors LLC increased its stake in shares of Alaska Air Group by 28.4% during the fourth quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock worth $66,000 after purchasing an additional 373 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Alaska Air Group during the 2nd quarter worth about $69,000. 81.90% of the stock is currently owned by hedge funds and other 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.