Barclays Initiates Coverage on Alaska Air Group (NYSE:ALK)

Equities research analysts at Barclays started coverage on shares of Alaska Air Group (NYSE:ALK) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set an “overweight” rating and a $55.00 price target on the transportation company’s stock. Barclays‘s price objective would indicate a potential upside of 19.59% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Citigroup lowered their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Susquehanna upped their price objective on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI lowered their price objective on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley decreased their price target on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, Bank of America increased their price target on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.80.

Alaska Air Group Trading Down 0.1 %

ALK stock opened at $45.99 on Monday. Alaska Air Group has a 1-year low of $30.75 and a 1-year high of $46.87. The firm has a market cap of $5.84 billion, a P/E ratio of 24.59, a P/E/G ratio of 0.66 and a beta of 1.60. The business’s 50 day moving average is $40.08 and its 200-day moving average is $40.54. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new position in Alaska Air Group in the 2nd quarter valued at $28,000. Pacifica Partners Inc. boosted its position in shares of Alaska Air Group by 952.4% in the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after purchasing an additional 1,000 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Alaska Air Group in the 2nd quarter worth $69,000. Halpern Financial Inc. bought a new position in shares of Alaska Air Group in the 2nd quarter worth $81,000. Finally, GAMMA Investing LLC boosted its position in shares of Alaska Air Group by 31.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,602 shares of the transportation company’s stock worth $105,000 after purchasing an additional 626 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors.

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.