Alaska Air Group (NYSE:ALK) PT Lowered to $55.00

Alaska Air Group (NYSE:ALK) had its target price trimmed by Evercore ISI from $60.00 to $55.00 in a report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the transportation company’s stock.

A number of other equities analysts also recently weighed in on ALK. TD Cowen increased their price target on shares of Alaska Air Group from $51.00 to $52.00 and gave the stock a buy rating in a research note on Friday, September 13th. Susquehanna cut their price objective 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. Citigroup decreased their target price on Alaska Air Group from $51.00 to $48.00 and set a buy rating for the company in a research report on Thursday, August 29th. Bank of America lifted their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a buy rating in a report on Friday, September 13th. Finally, Morgan Stanley dropped their price objective on shares of Alaska Air Group from $75.00 to $70.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $53.20.

Alaska Air Group Trading Down 0.5 %

NYSE:ALK opened at $42.48 on Thursday. The stock’s 50 day simple moving average is $38.09 and its 200-day simple moving average is $40.30. Alaska Air Group has a 12-month low of $30.75 and a 12-month high of $46.15. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. The firm has a market cap of $5.39 billion, a P/E ratio of 22.72, a PEG 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 for the quarter, topping analysts’ consensus estimates of $2.36 by $0.19. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. Alaska Air Group’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.00 earnings per share. Equities analysts anticipate that Alaska Air Group will post 4.62 EPS for the current year.

Institutional Trading of Alaska Air Group

A number of hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd acquired a new stake in shares of Alaska Air Group during the 2nd quarter valued at $28,000. LifeSteps Financial Inc. acquired a new stake in Alaska Air Group in the first quarter valued at approximately $65,000. Parallel Advisors LLC raised its holdings in shares of Alaska Air Group by 28.4% during the 4th quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock valued at $66,000 after purchasing an additional 373 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Alaska Air Group in the 2nd quarter valued at $69,000. Finally, Halpern Financial Inc. acquired a new position in Alaska Air Group during the second quarter worth $81,000. 81.90% of the stock is 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.