Citigroup Issues Pessimistic Forecast for Alaska Air Group (NYSE:ALK) Stock Price

Alaska Air Group (NYSE:ALK) had its price target cut by equities research analysts at Citigroup from $83.00 to $81.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective points to a potential upside of 50.11% from the company’s current price.

Several other equities research analysts have also weighed in on the company. Morgan Stanley boosted their target price on Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. UBS Group lifted their target price on shares of Alaska Air Group from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Susquehanna upgraded shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price target for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price objective on Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Finally, Bank of America increased their target price on Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, January 17th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.54.

Alaska Air Group Stock Up 3.1 %

ALK opened at $53.96 on Tuesday. The business has a 50-day moving average of $68.04 and a 200-day moving average of $56.80. Alaska Air Group has a fifty-two week low of $32.62 and a fifty-two week high of $78.08. The company has a market capitalization of $6.64 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 0.43 and a beta of 1.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.58.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. Equities research analysts forecast that Alaska Air Group will post 6.03 EPS for the current fiscal year.

Insider Buying and Selling at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 6,600 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $76.28, for a total value of $503,448.00. Following the completion of the sale, the executive vice president now owns 34,030 shares in the company, valued at approximately $2,595,808.40. This trade represents a 16.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Shane R. Tackett sold 22,893 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $75.74, for a total transaction of $1,733,915.82. Following the completion of the sale, the chief financial officer now directly owns 31,873 shares of the company’s stock, valued at approximately $2,414,061.02. This represents a 41.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,725 shares of company stock worth $11,217,263 over the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Alaska Air Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Maryland State Retirement & Pension System boosted its position in shares of Alaska Air Group by 0.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 49,905 shares of the transportation company’s stock worth $3,231,000 after purchasing an additional 147 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Alaska Air Group by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 29,816 shares of the transportation company’s stock worth $1,931,000 after acquiring an additional 160 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of Alaska Air Group by 44.8% during the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock worth $38,000 after purchasing an additional 182 shares during the period. Savant Capital LLC lifted its holdings in shares of Alaska Air Group by 3.4% during the 4th quarter. Savant Capital LLC now owns 6,284 shares of the transportation company’s stock valued at $407,000 after purchasing an additional 206 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its position in shares of Alaska Air Group by 1.3% in the 4th quarter. Mutual of America Capital Management LLC now owns 19,229 shares of the transportation company’s stock valued at $1,245,000 after purchasing an additional 254 shares during the period. 81.90% of the stock is owned by 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.