Citigroup Raises Alaska Air Group (ALK) Price Target to $70.00
Alaska Air Group (NYSE:ALK) had its target price increased by Citigroup from $69.00 to $70.00 in a report issued on Monday morning. Citigroup currently has a neutral rating on the transportation company’s stock.
A number of other brokerages have also recently commented on ALK. Zacks Investment Research upgraded shares of Alaska Air Group from a sell rating to a hold rating in a research note on Tuesday, December 26th. Bank of America cut shares of Alaska Air Group from a buy rating to a neutral rating and set a $84.00 target price for the company. in a research note on Tuesday, January 9th. Standpoint Research assumed coverage on shares of Alaska Air Group in a research note on Monday, December 18th. They set a buy rating and a $90.00 target price for the company. Barclays cut shares of Alaska Air Group from an overweight rating to an equal weight rating and cut their target price for the stock from $90.00 to $80.00 in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus restated a buy rating and set a $105.00 target price (down previously from $115.00) on shares of Alaska Air Group in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Alaska Air Group currently has an average rating of Hold and a consensus target price of $83.71.
Shares of ALK stock opened at $65.21 on Monday. The firm has a market capitalization of $7,865.63, a price-to-earnings ratio of 9.82, a PEG ratio of 1.49 and a beta of 0.75. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. Alaska Air Group has a one year low of $57.60 and a one year high of $95.75.
In related news, CEO Gary L. Beck sold 6,360 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $65.10, for a total transaction of $414,036.00. Following the transaction, the chief executive officer now directly owns 3,316 shares of the company’s stock, valued at $215,871.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Christopher Michael Berry sold 460 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $97.00, for a total transaction of $44,620.00. Following the transaction, the vice president now directly owns 1,997 shares in the company, valued at $193,709. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,373 shares of company stock worth $884,697. 0.56% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in ALK. Exane Derivatives bought a new position in Alaska Air Group during the fourth quarter worth about $105,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Alaska Air Group by 55.3% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,495 shares of the transportation company’s stock worth $186,000 after acquiring an additional 888 shares during the period. Wetherby Asset Management Inc. bought a new position in Alaska Air Group during the fourth quarter worth about $206,000. Nwam LLC bought a new position in Alaska Air Group during the fourth quarter worth about $214,000. Finally, Hourglass Capital LLC bought a new position in Alaska Air Group during the fourth quarter worth about $217,000. 86.33% of the stock is currently owned by institutional investors and hedge funds.
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About Alaska Air Group
Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.
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