Alaska Air Group, Inc. (NYSE:ALK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Alaska Air Group, Inc. (NYSE:ALK) have earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $53.20.

A number of equities research analysts have recently commented on the company. Bank of America increased their price objective on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Morgan Stanley reduced their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Susquehanna dropped their price target on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Evercore ISI cut their price objective on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, TD Cowen decreased their target price on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday.

Alaska Air Group Trading Down 0.5 %

Shares of ALK stock opened at $42.48 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The stock has a 50-day simple moving average of $38.09 and a 200 day simple moving average of $40.28. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $46.15. The stock has a market capitalization of $5.39 billion, a P/E ratio of 22.72, a P/E/G ratio of 0.54 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.19. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the company posted $3.00 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Alaska Air Group will post 4.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alaska Air Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. CVA Family Office LLC boosted its position in Alaska Air Group by 17.1% during the first quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 325 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Alaska Air Group by 28.4% in the 4th quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock valued at $66,000 after buying an additional 373 shares in the last quarter. Gateway Investment Advisers LLC increased its holdings in Alaska Air Group by 0.3% in the first quarter. Gateway Investment Advisers LLC now owns 153,403 shares of the transportation company’s stock worth $6,595,000 after buying an additional 391 shares during the last quarter. QRG Capital Management Inc. raised its position in Alaska Air Group by 4.7% during the second quarter. QRG Capital Management Inc. now owns 9,029 shares of the transportation company’s stock valued at $365,000 after acquiring an additional 406 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Alaska Air Group by 4.0% in the first quarter. William Blair Investment Management LLC now owns 11,470 shares of the transportation company’s stock valued at $493,000 after acquiring an additional 436 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.