Bank of America Forecasts Strong Price Appreciation for Alaska Air Group (NYSE:ALK) Stock

Alaska Air Group (NYSE:ALK) had its price objective raised by research analysts at Bank of America from $70.00 to $80.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price would suggest a potential upside of 20.58% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Evercore ISI decreased their target price on 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. JPMorgan Chase & Co. lifted their price objective on Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Citigroup upped their target price on Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, December 16th. The Goldman Sachs Group raised their target price on Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley boosted their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.57.

Alaska Air Group Stock Down 1.6 %

ALK stock opened at $66.35 on Friday. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 0.67 and a beta of 1.54. The company has a 50-day moving average of $60.18 and a two-hundred day moving average of $47.33. Alaska Air Group has a 52-week low of $32.62 and a 52-week high of $69.10. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping the consensus estimate 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 posted $1.83 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts anticipate that Alaska Air Group will post 4.37 EPS for the current year.

Insider Activity

In other Alaska Air Group news, VP Emily Halverson sold 1,329 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $64.41, for a total transaction of $85,600.89. Following the sale, the vice president now owns 7,150 shares of the company’s stock, valued at $460,531.50. This represents a 15.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shane R. Tackett sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total transaction of $317,800.00. Following the completion of the transaction, the chief financial officer now directly owns 27,362 shares of the company’s stock, valued at approximately $1,739,128.72. This represents a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,473 shares of company stock worth $2,198,342. Insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Avior Wealth Management LLC boosted its stake in shares of Alaska Air Group by 44.8% in the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 182 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in Alaska Air Group by 2.2% in the third quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company’s stock valued at $460,000 after buying an additional 215 shares during the period. QRG Capital Management Inc. boosted its stake in Alaska Air Group by 2.7% in the third quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock valued at $419,000 after acquiring an additional 242 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in Alaska Air Group by 4.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock worth $268,000 after acquiring an additional 267 shares during the period. Finally, Coastwise Capital Group LLC raised its position in shares of Alaska Air Group by 6.0% during the 3rd quarter. Coastwise Capital Group LLC now owns 5,354 shares of the transportation company’s stock valued at $242,000 after acquiring an additional 304 shares during the last quarter. 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.