Alaska Air Group (NYSE:ALK) Given New $70.00 Price Target at Bank of America

Alaska Air Group (NYSE:ALK) had its price target lowered by Bank of America from $80.00 to $70.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price would suggest a potential upside of 36.64% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Susquehanna raised shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 target price for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group boosted their price objective on Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Citigroup reduced their target price on Alaska Air Group from $83.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. UBS Group lowered their price target on Alaska Air Group from $87.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. raised 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. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.23.

Alaska Air Group Trading Up 4.5 %

NYSE:ALK opened at $51.23 on Thursday. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 0.43 and a beta of 1.37. Alaska Air Group has a one year low of $32.62 and a one year high of $78.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61. The business’s 50-day simple moving average is $65.01 and its 200 day simple moving average is $57.75.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. As a group, sell-side analysts predict that Alaska Air Group will post 6.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Alaska Air Group

In related news, COO Muehlen Constance E. Von sold 22,157 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $75.12, for a total value of $1,664,433.84. Following the sale, the chief operating officer now directly owns 20,026 shares in the company, valued at $1,504,353.12. This trade represents a 52.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew R. Harrison sold 6,600 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $76.28, for a total value of $503,448.00. Following the transaction, the executive vice president now owns 34,030 shares of the company’s stock, valued at $2,595,808.40. This trade represents a 16.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 154,725 shares of company stock valued at $11,217,263 in the last ninety days. Company insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Avior Wealth Management LLC grew its position in Alaska Air Group by 44.8% in the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after buying an additional 182 shares in the last quarter. Wood Tarver Financial Group LLC bought a new position in shares of Alaska Air Group in the fourth quarter valued at approximately $38,000. Pacific Center for Financial Services acquired a new position in shares of Alaska Air Group during the third quarter valued at approximately $45,000. SBI Securities Co. Ltd. bought a new stake in Alaska Air Group during the fourth quarter worth approximately $52,000. Finally, Quarry LP lifted its position in Alaska Air Group by 259.3% in the third quarter. Quarry LP now owns 1,175 shares of the transportation company’s stock worth $53,000 after purchasing an additional 848 shares during the period. 81.90% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Company Profile

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.