TD Cowen Lowers Alaska Air Group (NYSE:ALK) Price Target to $50.00

Alaska Air Group (NYSE:ALK) had its price target reduced by investment analysts at TD Cowen from $52.00 to $50.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. TD Cowen’s price objective indicates a potential upside of 17.70% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Evercore ISI lowered their price target on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday. Citigroup decreased 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. Morgan Stanley decreased their target price on 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. Susquehanna decreased their target price on 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. Finally, Bank of America lifted their target price on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.91.

Alaska Air Group Price Performance

NYSE ALK opened at $42.48 on Thursday. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $46.15. The stock’s 50-day moving average is $38.03 and its two-hundred day moving average is $40.25. 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 firm has a market cap of $5.39 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 0.54 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.19. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $3.00 earnings per share. On average, analysts anticipate that Alaska Air Group will post 4.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALK. Altshuler Shaham Ltd bought a new position in shares of Alaska Air Group during the second quarter valued at $28,000. LifeSteps Financial Inc. bought a new position in shares of Alaska Air Group during the first quarter valued at $65,000. Parallel Advisors LLC lifted its holdings 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 valued at $66,000 after acquiring an additional 373 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Alaska Air Group during the second quarter valued at $69,000. Finally, Halpern Financial Inc. bought a new position in shares of Alaska Air Group during the second quarter valued at $81,000. 81.90% of the stock is owned by 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.