Bank of America Raises Alaska Air Group (NYSE:ALK) Price Target to $56.00

Alaska Air Group (NYSE:ALK) had its price target upped by Bank of America from $50.00 to $56.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other research firms have also recently weighed in on ALK. TD Cowen lifted their target price on Alaska Air Group from $41.00 to $49.00 and gave the company a buy rating in a research note on Friday, April 5th. Melius lowered Alaska Air Group from a buy rating to a hold rating in a report on Monday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Alaska Air Group from a hold rating to a buy rating and lifted their price target for the company from $44.00 to $51.00 in a report on Tuesday, February 20th. Evercore ISI lifted their price target on Alaska Air Group from $55.00 to $65.00 and gave the company an outperform rating in a report on Thursday, April 4th. Finally, Susquehanna lowered Alaska Air Group from a positive rating to a neutral rating and lifted their price target for the company from $39.00 to $40.00 in a report on Wednesday, January 10th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $57.85.

Alaska Air Group Trading Up 1.3 %

NYSE:ALK opened at $45.02 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.61 and a quick ratio of 0.58. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $57.18. The stock’s 50-day moving average is $39.68 and its two-hundred day moving average is $37.22. The stock has a market cap of $5.66 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 0.86 and a beta of 1.63.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.09) by $0.17. Alaska Air Group had a return on equity of 14.72% and a net margin of 2.25%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the business posted ($0.62) EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Alaska Air Group will post 4.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Andrew R. Harrison sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total value of $249,340.00. Following the completion of the sale, the executive vice president now directly owns 26,048 shares in the company, valued at approximately $999,201.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALK. Massmutual Trust Co. FSB ADV lifted its holdings in Alaska Air Group by 215.8% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 761 shares of the transportation company’s stock worth $30,000 after purchasing an additional 520 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Alaska Air Group by 255.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 775 shares of the transportation company’s stock worth $30,000 after purchasing an additional 557 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Alaska Air Group by 416.4% during the first quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock worth $33,000 after buying an additional 458 shares during the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of Alaska Air Group by 456.1% during the third quarter. Itau Unibanco Holding S.A. now owns 912 shares of the transportation company’s stock worth $34,000 after buying an additional 748 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Alaska Air Group during the fourth quarter worth approximately $39,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

About Alaska Air Group

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.