Melius Research Upgrades Alaska Air Group (NYSE:ALK) to Buy

Alaska Air Group (NYSE:ALK) was upgraded by analysts at Melius Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat.com reports. The firm presently has a $56.00 price target on the transportation company’s stock. Melius Research’s price objective indicates a potential upside of 19.35% from the stock’s current price.

Several other analysts have also recently commented on ALK. Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Monday. TD Cowen dropped their price target on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI cut their price target on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Citigroup lowered their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Barclays assumed coverage on shares of Alaska Air Group in a research note on Monday, October 21st. They set an “overweight” rating and a $55.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.17.

Alaska Air Group Stock Performance

Alaska Air Group stock opened at $46.92 on Monday. The business has a 50 day moving average of $41.41 and a 200-day moving average of $40.70. The company has a market capitalization of $5.95 billion, a P/E ratio of 25.09, a P/E/G ratio of 0.66 and a beta of 1.60. Alaska Air Group has a 1 year low of $30.75 and a 1 year high of $47.45. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.66.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC purchased a new position in Alaska Air Group during the first quarter worth about $217,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Alaska Air Group during the 1st quarter valued at approximately $499,000. Janney Montgomery Scott LLC lifted its stake in Alaska Air Group by 3.2% in the first quarter. Janney Montgomery Scott LLC now owns 17,780 shares of the transportation company’s stock valued at $764,000 after purchasing an additional 559 shares during the last quarter. swisspartners Advisors Ltd raised its stake in shares of Alaska Air Group by 3.4% in the first quarter. swisspartners Advisors Ltd now owns 130,209 shares of the transportation company’s stock valued at $5,598,000 after buying an additional 4,270 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Alaska Air Group by 31.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 42,133 shares of the transportation company’s stock worth $1,811,000 after acquiring an additional 10,137 shares during the period. Institutional investors 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.