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

Alaska Air Group (NYSE:ALK) was upgraded by investment analysts at Melius from a “hold” rating to a “buy” rating in a research note issued on Monday, Marketbeat reports. The brokerage presently has a $56.00 target price on the transportation company’s stock. Melius’ price objective would suggest a potential upside of 19.35% from the company’s previous close.

Several other analysts have also issued reports on ALK. Citigroup decreased their price target 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. TD Cowen decreased their target price on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Barclays assumed coverage on Alaska Air Group in a research note on Monday, October 21st. They set an “overweight” rating and a $55.00 price target on the stock. Susquehanna raised their price objective on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Bank of America boosted their price objective on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.17.

Alaska Air Group Stock Down 0.4 %

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

Hedge Funds Weigh In On Alaska Air Group

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of Alaska Air Group by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock worth $262,789,000 after buying an additional 357,907 shares in the last quarter. Boston Partners increased its holdings in Alaska Air Group by 4.1% during the 1st quarter. Boston Partners now owns 3,966,594 shares of the transportation company’s stock valued at $170,533,000 after purchasing an additional 155,403 shares in the last quarter. Point72 Asset Management L.P. raised its position in Alaska Air Group by 8.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock valued at $119,960,000 after purchasing an additional 220,030 shares during the last quarter. American Century Companies Inc. raised its position in Alaska Air Group by 8.3% in the 2nd quarter. American Century Companies Inc. now owns 1,590,078 shares of the transportation company’s stock valued at $64,239,000 after purchasing an additional 122,325 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Alaska Air Group by 8.6% in the first quarter. Clearbridge Investments LLC now owns 1,063,379 shares of the transportation company’s stock worth $45,715,000 after purchasing an additional 83,868 shares in the last quarter. 81.90% of the stock is owned by 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.