Alaska Air Group (NYSE:ALK) Price Target Raised to $68.00 at TD Cowen

Alaska Air Group (NYSE:ALK) had its price target upped by TD Cowen from $50.00 to $68.00 in a report released on Wednesday morning, MarketBeat.com reports. The firm currently has a buy rating on the transportation company’s stock.

A number of other equities research analysts have also commented on ALK. Susquehanna increased their price target on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group restated a “buy” rating and issued a $70.00 target price on shares of Alaska Air Group in a research note on Friday, November 15th. Citigroup reduced their price target on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. UBS Group restated a “buy” rating and issued a $72.00 price objective on shares of Alaska Air Group in a research report on Tuesday, November 26th. Finally, Barclays boosted their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.08.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $54.32 on Wednesday. The business has a 50 day simple moving average of $48.79 and a 200 day simple moving average of $42.38. Alaska Air Group has a one year low of $32.62 and a one year high of $56.95. The company has a market capitalization of $6.90 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.19 and a beta of 1.60. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $1.83 earnings per share. On average, sell-side analysts forecast that Alaska Air Group will post 4.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALK. Altshuler Shaham Ltd acquired a new stake in Alaska Air Group in the second quarter worth $28,000. Pacific Center for Financial Services bought a new stake in shares of Alaska Air Group in the 3rd quarter valued at $45,000. Venturi Wealth Management LLC raised 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 worth $46,000 after buying an additional 474 shares during the period. Pacifica Partners Inc. lifted its holdings in Alaska Air Group by 952.4% during the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after acquiring an additional 1,000 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in Alaska Air Group in the third quarter valued at about $52,000. Institutional investors own 81.90% of the company’s stock.

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.