Alaska Air Group’s (ALK) “Buy” Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reiterated their buy rating on shares of Alaska Air Group (NYSE:ALK) in a research note published on Friday, Marketbeat Ratings reports. The firm currently has a $70.00 target price on the transportation company’s stock.

A number of other equities analysts also recently commented on the company. Bank of America lifted their target price on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, September 13th. TD Cowen reduced their price objective on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Monday, October 28th. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Monday, October 28th. Finally, Barclays increased their price objective on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Alaska Air Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.31.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $53.96 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 1.22 and a beta of 1.59. Alaska Air Group has a twelve month low of $32.00 and a twelve month high of $54.01. 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 released its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share 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 firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities research analysts expect that Alaska Air Group will post 4.26 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd acquired a new position in shares of Alaska Air Group during the 2nd quarter valued at $28,000. Pacific Center for Financial Services acquired a new position in Alaska Air Group during the third quarter worth about $45,000. Venturi Wealth Management LLC raised its position in Alaska Air Group by 86.0% in the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after acquiring an additional 474 shares in the last quarter. Pacifica Partners Inc. lifted its holdings in Alaska Air Group by 952.4% in the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 1,000 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in Alaska Air Group in the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 81.90% of the company’s stock.

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.