Alaska Air Group (NYSE:ALK) Stock Price Expected to Rise, Citigroup Analyst Says

Alaska Air Group (NYSE:ALK) had its price objective upped by Citigroup from $63.00 to $74.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Citigroup’s target price would suggest a potential upside of 17.11% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Susquehanna upped their price target on shares of Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. UBS Group reaffirmed a “buy” rating and issued a $72.00 price target on shares of Alaska Air Group in a report on Tuesday, November 26th. Morgan Stanley upped their target price on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Monday, October 28th. Finally, TD Cowen upped their target price on Alaska Air Group from $68.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Alaska Air Group presently has an average rating of “Moderate Buy” and a consensus price target of $65.86.

Alaska Air Group Trading Up 1.0 %

Shares of Alaska Air Group stock traded up $0.62 during midday trading on Monday, reaching $63.19. The company had a trading volume of 482,940 shares, compared to its average volume of 2,283,585. The firm has a market cap of $8.02 billion, a PE ratio of 25.48, a P/E/G ratio of 1.24 and a beta of 1.60. The stock has a fifty day moving average price of $50.51 and a 200 day moving average price of $43.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. Alaska Air Group has a fifty-two week low of $32.62 and a fifty-two week high of $65.62.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.03. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. Alaska Air Group’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 earnings per share. On average, equities analysts anticipate that Alaska Air Group will post 4.3 earnings per share for the current year.

Insider Activity

In related news, CFO Shane R. Tackett sold 5,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total transaction of $317,800.00. Following the sale, the chief financial officer now directly owns 27,362 shares of the company’s stock, valued at $1,739,128.72. This trade represents a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Muehlen Constance E. Von sold 4,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $63.09, for a total transaction of $252,360.00. Following the sale, the chief operating officer now directly owns 12,162 shares in the company, valued at approximately $767,300.58. The trade was a 24.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,580 shares of company stock worth $1,693,569. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALK. Retirement Systems of Alabama purchased a new stake in shares of Alaska Air Group during the 3rd quarter valued at about $5,066,000. Franklin Resources Inc. grew its holdings in Alaska Air Group by 4.1% during the 3rd quarter. Franklin Resources Inc. now owns 633,514 shares of the transportation company’s stock valued at $28,312,000 after purchasing an additional 24,796 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Alaska Air Group in the third quarter worth about $59,000. Geode Capital Management LLC boosted its position in shares of Alaska Air Group by 3.9% during the third quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company’s stock valued at $93,229,000 after buying an additional 78,186 shares during the period. Finally, Barclays PLC raised its holdings in shares of Alaska Air Group by 1.8% in the third quarter. Barclays PLC now owns 1,058,564 shares of the transportation company’s stock worth $47,857,000 after buying an additional 18,233 shares during the period. Institutional investors own 81.90% of the company’s stock.

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.