Alaska Air Group (NYSE:ALK) Given New $85.00 Price Target at JPMorgan Chase & Co.

Alaska Air Group (NYSE:ALK) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $58.00 to $85.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 34.64% from the company’s previous close.

A number of other research firms have also commented on ALK. UBS Group reaffirmed a “buy” rating and set a $72.00 price target on shares of Alaska Air Group in a research report on Tuesday, November 26th. Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, October 28th. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, October 28th. The Goldman Sachs Group reissued a “buy” rating and issued a $70.00 target price on shares of Alaska Air Group in a research report on Friday, November 15th. Finally, Evercore ISI decreased their target price on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Alaska Air Group has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Alaska Air Group Trading Up 3.0 %

ALK traded up $1.84 during midday trading on Wednesday, reaching $63.13. 2,385,901 shares of the company’s stock traded hands, compared to its average volume of 2,261,576. The firm has a fifty day moving average of $49.29 and a two-hundred day moving average of $42.57. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 1.23 and a beta of 1.60. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. Alaska Air Group has a 52 week low of $32.62 and a 52 week high of $63.90.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. Alaska Air Group’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.83 EPS. On average, equities analysts anticipate that Alaska Air Group will post 4.26 earnings per share for the current fiscal year.

Institutional Trading of Alaska Air Group

Several institutional investors have recently added to or reduced their stakes in ALK. Altshuler Shaham Ltd purchased a new stake in Alaska Air Group during the 2nd quarter valued at $28,000. Pacific Center for Financial Services purchased a new stake in Alaska Air Group during the 3rd quarter valued at $45,000. Venturi Wealth Management LLC boosted its stake in Alaska Air Group by 86.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 474 shares during the last quarter. Pacifica Partners Inc. boosted its stake in shares of Alaska Air Group by 952.4% in the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after buying an additional 1,000 shares during the last quarter. Finally, True Wealth Design LLC purchased a new position in shares of Alaska Air Group in the 3rd quarter worth $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.