Barclays Raises Alaska Air Group (NYSE:ALK) Price Target to $80.00

Alaska Air Group (NYSE:ALK) had its target price increased by Barclays from $55.00 to $80.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Several other equities analysts also recently weighed in on ALK. Bank of America raised their target price 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. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Monday, October 28th. TD Cowen lowered their target price on shares of 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. Morgan Stanley reduced their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Evercore ISI lowered their price target on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.31.

Alaska Air Group Stock Up 2.0 %

Alaska Air Group stock opened at $53.96 on Thursday. Alaska Air Group has a 12 month low of $32.00 and a 12 month high of $54.01. The stock has a market capitalization of $6.85 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.22 and a beta of 1.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The business has a 50 day simple moving average of $45.18 and a 200-day simple moving average of $41.33.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period last year, the firm posted $1.83 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. On average, analysts anticipate that Alaska Air Group will post 4.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Alaska Air Group

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Alaska Air Group by 3.9% in the third quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company’s stock valued at $93,229,000 after buying an additional 78,186 shares during the last quarter. Barclays PLC lifted its holdings in shares of Alaska Air Group by 1.8% in the 3rd quarter. Barclays PLC now owns 1,058,564 shares of the transportation company’s stock worth $47,857,000 after acquiring an additional 18,233 shares during the last quarter. Pacific Center for Financial Services purchased a new position in shares of Alaska Air Group during the 3rd quarter worth approximately $45,000. XTX Topco Ltd increased its holdings in Alaska Air Group by 39.7% in the 3rd quarter. XTX Topco Ltd now owns 16,907 shares of the transportation company’s stock valued at $764,000 after purchasing an additional 4,807 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Alaska Air Group in the 3rd quarter valued at $26,390,000. Institutional investors and hedge funds 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.