Alaska Air Group (NYSE:ALK) Stock Price Up 5.5%

Alaska Air Group, Inc. (NYSE:ALK) shares were up 5.5% during trading on Thursday . The stock traded as high as $38.23 and last traded at $38.11. Approximately 652,591 shares were traded during trading, a decline of 70% from the average daily volume of 2,192,901 shares. The stock had previously closed at $36.12.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALK shares. TD Cowen dropped their price objective on shares of Alaska Air Group from $58.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Citigroup reduced their price objective on shares of 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 cut their price objective on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Susquehanna cut their price objective on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Finally, Wolfe Research upgraded shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 target price for the company in a research note on Friday, May 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.00.

Alaska Air Group Stock Up 6.9 %

The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 0.67 and a beta of 1.60. The business’s 50-day moving average is $36.95 and its two-hundred day moving average is $39.75.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data 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 net margin of 2.14% and a return on equity of 11.85%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the firm posted $3.00 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Alaska Air Group, Inc. will post 4.08 EPS for the current year.

Hedge Funds Weigh In On Alaska Air Group

Several hedge funds have recently added to or reduced their stakes in ALK. Point72 Asset Management L.P. grew its holdings in shares of Alaska Air Group by 8.0% during the second quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock worth $119,960,000 after buying an additional 220,030 shares in the last quarter. Creative Planning raised its holdings in shares of Alaska Air Group by 5.2% during the second quarter. Creative Planning now owns 51,529 shares of the transportation company’s stock worth $2,082,000 after purchasing an additional 2,538 shares during the period. MidWestOne Financial Group Inc. raised its holdings in shares of Alaska Air Group by 3.5% during the second quarter. MidWestOne Financial Group Inc. now owns 32,887 shares of the transportation company’s stock worth $1,329,000 after purchasing an additional 1,097 shares during the period. Susquehanna Fundamental Investments LLC raised its holdings in shares of Alaska Air Group by 4.3% during the second quarter. Susquehanna Fundamental Investments LLC now owns 29,306 shares of the transportation company’s stock worth $1,184,000 after purchasing an additional 1,208 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Alaska Air Group by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 29,367 shares of the transportation company’s stock worth $1,186,000 after purchasing an additional 751 shares during the period. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

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.