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

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

ALK has been the subject of several other research reports. 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 report on Friday, May 17th. Susquehanna reduced their target price on shares of Alaska Air Group from $42.00 to $41.00 and set a neutral rating for the company in a report on Tuesday, July 16th. Citigroup decreased their price target on shares of Alaska Air Group from $51.00 to $48.00 and set a buy rating on the stock in a research note on Thursday, August 29th. Finally, Morgan Stanley cut their price objective on shares of Alaska Air Group from $75.00 to $70.00 and set an overweight rating for the company in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Alaska Air Group has an average rating of Moderate Buy and a consensus target price of $54.00.

Alaska Air Group Stock Up 4.2 %

Alaska Air Group stock opened at $41.64 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.66. The company’s 50-day moving average is $36.88 and its 200-day moving average is $39.81. The firm has a market capitalization 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 fifty-two week low of $30.75 and a fifty-two week high of $46.15.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, topping 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 firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the business earned $3.00 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Alaska Air Group will post 4.17 earnings per share for the current year.

Institutional Investors Weigh In On Alaska Air Group

A number of large investors have recently added to or reduced their stakes in ALK. Altshuler Shaham Ltd bought a new stake in shares of Alaska Air Group during the 2nd quarter valued at $28,000. Principal Securities Inc. acquired a new position in Alaska Air Group in the fourth quarter valued at about $39,000. LifeSteps Financial Inc. bought a new stake in Alaska Air Group during the first quarter worth about $65,000. Parallel Advisors LLC grew its stake in 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 buying an additional 373 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Alaska Air Group in the 2nd quarter valued at about $69,000. Institutional investors and hedge funds 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.