Alaska Air Group (NYSE:ALK) Given New $74.00 Price Target at Citigroup

Alaska Air Group (NYSE:ALK) had its price target upped by investment analysts at Citigroup from $63.00 to $74.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Citigroup’s target price points to a potential upside of 17.09% from the company’s current price.

A number of other research analysts have also weighed in on the stock. Morgan Stanley raised their target price on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Evercore ISI reduced their target price on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $70.00 price target on shares of Alaska Air Group in a report on Friday, November 15th. Susquehanna lifted 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. Finally, Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Alaska Air Group has a consensus rating of “Moderate Buy” and an average target price of $65.86.

Alaska Air Group Stock Performance

ALK opened at $63.20 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 1.24 and a beta of 1.60. The company has a fifty day moving average of $51.34 and a 200 day moving average of $43.34. Alaska Air Group has a fifty-two week low of $32.62 and a fifty-two week high of $65.62.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Alaska Air Group will post 4.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Andrea L. Schneider sold 3,700 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $63.50, for a total value of $234,950.00. Following the transaction, the senior vice president now owns 21,086 shares of the company’s stock, valued at $1,338,961. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Shane R. Tackett sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $63.56, for a total transaction of $317,800.00. Following the completion of the sale, the chief financial officer now directly owns 27,362 shares of the company’s stock, valued at approximately $1,739,128.72. This trade represents a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,580 shares of company stock valued at $1,693,569. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALK. Altshuler Shaham Ltd purchased a new stake in shares of Alaska Air Group in the 2nd quarter worth $28,000. Pacific Center for Financial Services purchased a new position in shares of Alaska Air Group during the third quarter valued at $45,000. Venturi Wealth Management LLC raised its holdings in shares of Alaska Air Group by 86.0% in the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after acquiring an additional 474 shares in the last quarter. Pacifica Partners Inc. lifted its stake in Alaska Air Group by 952.4% in 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 during the period. Finally, True Wealth Design LLC purchased a new stake in Alaska Air Group in the third quarter worth about $52,000. 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.