Alaska Air Group (NYSE:ALK) had its price target hoisted by investment analysts at Goldman Sachs Group from $51.00 to $63.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Goldman Sachs Group’s target price would suggest a potential upside of 73.75% from the stock’s current price.
Other equities research analysts have also issued reports about the company. Raymond James upped their price target on Alaska Air Group from $40.00 to $44.00 and gave the stock a “strong-buy” rating in a research note on Monday, June 22nd. JPMorgan Chase & Co. upped their price target on Alaska Air Group from $43.00 to $54.00 in a research note on Wednesday, June 10th. UBS Group dropped their price target on Alaska Air Group from $40.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. ValuEngine upgraded Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Deutsche Bank lowered their target price on Alaska Air Group from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $54.20.
Alaska Air Group stock opened at $36.26 on Monday. The firm has a market capitalization of $4.20 billion, a P/E ratio of 8.43 and a beta of 1.49. The stock has a fifty day moving average price of $35.03 and a 200 day moving average price of $46.45. Alaska Air Group has a 52 week low of $20.02 and a 52 week high of $72.22. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 0.64.
Alaska Air Group (NYSE:ALK) last released its earnings results on Tuesday, May 5th. The transportation company reported ($0.82) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.27) by $0.45. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. Alaska Air Group had a return on equity of 16.29% and a net margin of 6.24%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, equities analysts predict that Alaska Air Group will post -6.16 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Alaska Air Group by 33.1% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 6,368 shares of the transportation company’s stock worth $181,000 after purchasing an additional 1,584 shares during the last quarter. Harbor Advisors LLC bought a new stake in shares of Alaska Air Group in the 4th quarter worth approximately $203,000. Bank of New York Mellon Corp lifted its holdings in shares of Alaska Air Group by 6.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,021,211 shares of the transportation company’s stock worth $69,186,000 after purchasing an additional 59,321 shares during the last quarter. BRYN MAWR TRUST Co bought a new stake in shares of Alaska Air Group in the 1st quarter worth approximately $662,000. Finally, Ieq Capital LLC bought a new stake in shares of Alaska Air Group in the 4th quarter worth approximately $388,000. 80.21% of the stock is currently owned by institutional investors.
About Alaska Air Group
Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.
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