TD Cowen Raises Alaska Air Group (NYSE:ALK) Price Target to $58.00

Alaska Air Group (NYSE:ALK) had its price target raised by TD Cowen from $49.00 to $58.00 in a report published on Friday, MarketBeat.com reports. They currently have a buy rating on the transportation company’s stock.

A number of other equities analysts also recently weighed in on the stock. Evercore ISI lifted their target price on shares of Alaska Air Group from $55.00 to $65.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Bank of America lifted their target price on shares of Alaska Air Group from $50.00 to $56.00 and gave the stock a buy rating in a research note on Friday. Susquehanna downgraded shares of 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 research note on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft raised shares of 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 research note on Tuesday, February 20th. Finally, Melius downgraded shares of Alaska Air Group from a buy rating to a hold rating in a research note on Monday, January 8th. Four research analysts have rated the stock with a hold rating and eight have issued 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 Price Performance

Shares of NYSE:ALK opened at $45.53 on Friday. The firm has a market cap of $5.73 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 0.90 and a beta of 1.63. The firm’s fifty day moving average is $39.84 and its 200-day moving average is $37.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.63 and a current ratio of 0.65. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $57.18.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.17. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the firm earned ($0.62) earnings per share. Alaska Air Group’s quarterly revenue was up 1.6% on a year-over-year basis. Sell-side analysts predict that Alaska Air Group will post 4.41 earnings per share for the current year.

Insider Activity

In other news, EVP Andrew R. Harrison sold 6,500 shares of Alaska Air Group stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the transaction, the executive vice president now directly owns 26,048 shares in the company, valued at $999,201.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its stake in Alaska Air Group by 215.8% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 761 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 520 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in Alaska Air Group by 255.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 775 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 557 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in Alaska Air Group by 456.1% in the third quarter. Itau Unibanco Holding S.A. now owns 912 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 748 shares during the last quarter. Principal Securities Inc. purchased a new position in Alaska Air Group in the fourth quarter valued at about $39,000. Finally, Allworth Financial LP boosted its stake in Alaska Air Group by 63.4% in the third quarter. Allworth Financial LP now owns 1,297 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 503 shares during the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

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.