Alaska Air Group (NYSE:ALK) Raised to Positive at Susquehanna

Alaska Air Group (NYSE:ALK) was upgraded by Susquehanna from a “neutral” rating to a “positive” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $95.00 price objective on the transportation company’s stock. Susquehanna’s price target points to a potential upside of 43.37% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Barclays raised their price target on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $70.00 target price on shares of Alaska Air Group in a research note on Friday, November 15th. TD Cowen raised their price target on shares of Alaska Air Group from $68.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Morgan Stanley boosted their price objective on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Citigroup upped their price objective on shares of Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, December 16th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.14.

Alaska Air Group Price Performance

ALK stock opened at $66.26 on Tuesday. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.24 and a beta of 1.54. 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 firm has a 50 day moving average of $57.73 and a 200-day moving average of $46.04. Alaska Air Group has a 12-month low of $32.62 and a 12-month high of $67.73.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the business earned $1.83 earnings per share. Alaska Air Group’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts expect that Alaska Air Group will post 4.3 EPS for the current fiscal year.

Insider Activity

In related news, VP Emily Halverson sold 1,329 shares of Alaska Air Group stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $64.41, for a total value of $85,600.89. Following the completion of the transaction, the vice president now directly owns 7,150 shares in the company, valued at approximately $460,531.50. This trade represents a 15.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shane R. Tackett sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $63.56, for a total value of $317,800.00. Following the sale, the chief financial officer now owns 27,362 shares in the company, valued at $1,739,128.72. The trade was a 15.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,473 shares of company stock worth $2,198,342. 0.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alaska Air Group

Several large investors have recently added to or reduced their stakes in ALK. Altshuler Shaham Ltd bought a new position in shares of Alaska Air Group during the second quarter valued at approximately $28,000. Pacific Center for Financial Services acquired a new position in Alaska Air Group during the 3rd quarter valued at approximately $45,000. Venturi Wealth Management LLC grew its stake in Alaska Air Group by 86.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after buying an additional 474 shares during the last quarter. Pacifica Partners Inc. grew its stake in Alaska Air Group by 952.4% during the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after buying an additional 1,000 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in Alaska Air Group in the third quarter worth $52,000. 81.90% of the stock is currently 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.