Alaska Air Group (NYSE:ALK) Given New $70.00 Price Target at Susquehanna

Alaska Air Group (NYSE:ALK) had its price target upped by equities researchers at Susquehanna from $52.00 to $70.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “positive” rating on the transportation company’s stock. Susquehanna’s target price would suggest a potential upside of 43.92% from the stock’s previous close.

A number of other equities research analysts have also issued reports on ALK. Zacks Research upgraded Alaska Air Group from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. UBS Group set a $77.00 target price on Alaska Air Group and gave the company a “buy” rating in a research note on Friday, December 12th. Bank of America boosted their price target on Alaska Air Group from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday. Cantor Fitzgerald set a $65.00 price objective on shares of Alaska Air Group in a report on Monday, November 3rd. Finally, Evercore ISI lowered their target price on shares of Alaska Air Group from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.55.

Alaska Air Group Trading Down 2.3%

Shares of NYSE:ALK opened at $48.64 on Friday. The stock has a 50 day moving average of $46.35 and a 200 day moving average of $50.84. The company has a market cap of $5.64 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 0.50 and a beta of 1.22. Alaska Air Group has a 12-month low of $37.63 and a 12-month high of $78.08. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 1.12.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, October 23rd. The transportation company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.06). The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. Alaska Air Group had a return on equity of 8.93% and a net margin of 1.06%.Alaska Air Group’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.25 EPS. As a group, equities research analysts expect that Alaska Air Group will post 6.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Foster Dykema Cabot & Partners LLC bought a new stake in Alaska Air Group during the third quarter worth approximately $28,000. MAI Capital Management boosted its holdings in shares of Alaska Air Group by 80.5% in the 2nd quarter. MAI Capital Management now owns 628 shares of the transportation company’s stock worth $31,000 after purchasing an additional 280 shares during the period. AlphaQuest LLC bought a new position in shares of Alaska Air Group during the 3rd quarter valued at approximately $34,000. Smartleaf Asset Management LLC raised its holdings in Alaska Air Group by 43.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 838 shares of the transportation company’s stock valued at $42,000 after buying an additional 253 shares during the period. Finally, Country Trust Bank bought a new stake in Alaska Air Group in the third quarter worth $45,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

About Alaska Air Group

Alaska Air Group is a publicly traded holding company headquartered in Seattle, Washington, that operates two main airlines—Alaska Airlines and Horizon Air. Through these carriers, the company offers scheduled passenger and cargo services across a network spanning the United States, Canada and Mexico. Its core business activities include domestic and international air transportation, loyalty program management under the Mileage Plan brand, and ancillary revenue streams such as baggage fees, in-flight sales and code-share partnerships with other global airlines.

The roots of Alaska Air Group trace back to the foundation of its flagship carrier, Alaska Airlines, in 1932.