Bank of America Raises Alaska Air Group (NYSE:ALK) Price Target to $56.00

Alaska Air Group (NYSE:ALK) had its price target hoisted by Bank of America from $50.00 to $56.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Other equities analysts have also issued reports about the stock. UBS Group initiated coverage on shares of Alaska Air Group in a research note on Wednesday, March 20th. They issued a buy rating and a $54.00 price target on the stock. Susquehanna cut shares of Alaska Air Group from a positive rating to a neutral rating and boosted their price target for the company from $39.00 to $40.00 in a research report on Wednesday, January 10th. StockNews.com lowered Alaska Air Group from a hold rating to a sell rating in a report on Tuesday, April 9th. Melius cut Alaska Air Group from a buy rating to a hold rating in a research report on Monday, January 8th. Finally, Evercore ISI raised their price target on Alaska Air Group from $55.00 to $65.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $57.85.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $45.53 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 0.85. The company has a fifty day simple moving average of $39.84 and a 200-day simple moving average of $37.31. The stock has a market cap of $5.73 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 0.90 and a beta of 1.63. Alaska Air Group has a 12-month low of $30.75 and a 12-month high of $57.18.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.09) by $0.17. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the firm posted ($0.62) EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities analysts expect that Alaska Air Group will post 4.41 EPS for the current fiscal year.

Insider Activity at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 6,500 shares of Alaska Air Group stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total value of $249,340.00. Following the sale, the executive vice president now owns 26,048 shares of the company’s stock, valued at $999,201.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alaska Air Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV boosted its holdings in Alaska Air Group by 215.8% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 761 shares of the transportation company’s stock worth $30,000 after buying an additional 520 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in Alaska Air Group by 255.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 775 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 557 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in Alaska Air Group by 456.1% during the third quarter. Itau Unibanco Holding S.A. now owns 912 shares of the transportation company’s stock worth $34,000 after purchasing an additional 748 shares during the last quarter. Principal Securities Inc. acquired a new stake in Alaska Air Group in the fourth quarter valued at $39,000. Finally, Allworth Financial LP raised its stake in shares of Alaska Air Group by 63.4% during the 3rd quarter. Allworth Financial LP now owns 1,297 shares of the transportation company’s stock worth $48,000 after buying an additional 503 shares during the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

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.