Alaska Air Group (NYSE:ALK) Upgraded at Melius

Alaska Air Group (NYSE:ALK) was upgraded by research analysts at Melius from a “hold” rating to a “buy” rating in a report released on Monday, Briefing.com reports. The brokerage currently has a $56.00 price target on the transportation company’s stock. Melius’ price target would indicate a potential upside of 22.97% from the stock’s current price.

A number of other brokerages also recently commented on ALK. Citigroup dropped their target price on 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. Bank of America raised their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Susquehanna boosted their target price on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley cut their price target on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, TD Cowen decreased their price objective 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, October 3rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Alaska Air Group Price Performance

ALK stock opened at $45.54 on Monday. Alaska Air Group has a one year low of $30.75 and a one year high of $46.87. The firm has a 50-day moving average of $40.93 and a two-hundred day moving average of $40.63. 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 capitalization of $5.78 billion, a PE ratio of 24.35, a P/E/G ratio of 0.66 and a beta of 1.60.

Hedge Funds Weigh In On Alaska Air Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALK. Altshuler Shaham Ltd bought a new stake in Alaska Air Group in the 2nd quarter valued at $28,000. Pacifica Partners Inc. increased 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 valued at $50,000 after acquiring an additional 1,000 shares during the period. Canada Pension Plan Investment Board bought a new stake in Alaska Air Group in the second quarter valued at about $69,000. Halpern Financial Inc. acquired a new position in Alaska Air Group in the second quarter worth about $81,000. Finally, GAMMA Investing LLC lifted its stake in Alaska Air Group by 31.7% during the second quarter. GAMMA Investing LLC now owns 2,602 shares of the transportation company’s stock worth $105,000 after purchasing an additional 626 shares during the period. 81.90% of the stock is currently 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.