Alaska Air Group (NYSE:ALK) Price Target Raised to $89.00 at JPMorgan Chase & Co.

Alaska Air Group (NYSE:ALK) had its price objective hoisted by JPMorgan Chase & Co. from $85.00 to $89.00 in a research note released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the transportation company’s stock.

Other research analysts also recently issued reports about the stock. TD Cowen increased their price objective on shares of Alaska Air Group from $85.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Susquehanna upgraded shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price objective on the stock in a research note on Tuesday, January 7th. Bank of America increased their price objective on shares of Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, January 17th. UBS Group increased their price objective on shares of Alaska Air Group from $81.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Morgan Stanley raised their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Alaska Air Group Price Performance

ALK opened at $69.81 on Monday. The company has a fifty day simple moving average of $70.09 and a 200 day simple moving average of $55.12. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 0.43 and a beta of 1.55. Alaska Air Group has a twelve month low of $32.62 and a twelve month high of $78.08. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. Equities research analysts expect that Alaska Air Group will post 6.03 EPS for the current fiscal year.

Insider Activity at Alaska Air Group

In related news, CEO Joseph A. Sprague sold 2,325 shares of Alaska Air Group stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $64.38, for a total value of $149,683.50. Following the sale, the chief executive officer now directly owns 19,340 shares in the company, valued at $1,245,109.20. This trade represents a 10.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Andrea L. Schneider sold 800 shares of Alaska Air Group stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.89, for a total transaction of $51,112.00. Following the completion of the sale, the senior vice president now owns 20,286 shares in the company, valued at approximately $1,296,072.54. This represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,198 shares of company stock worth $13,415,604 in the last ninety days. 0.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Alaska Air Group

Several large investors have recently bought and sold shares of ALK. Avior Wealth Management LLC increased its stake in Alaska Air Group by 44.8% during the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after buying an additional 182 shares during the period. Pacific Center for Financial Services acquired a new position in Alaska Air Group during the 3rd quarter valued at about $45,000. Venturi Wealth Management LLC increased 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 valued at $46,000 after buying an additional 474 shares during the period. True Wealth Design LLC acquired a new position in Alaska Air Group during the 3rd quarter valued at about $52,000. Finally, SBI Securities Co. Ltd. acquired a new position in Alaska Air Group during the 4th 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.