Brokerages Set Alaska Air Group, Inc. (NYSE:ALK) PT at $53.69

Alaska Air Group, Inc. (NYSE:ALK) has been assigned a consensus recommendation of “Buy” from the seventeen brokerages that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $54.54.

Several analysts recently weighed in on ALK shares. JPMorgan Chase & Co. increased their price target on Alaska Air Group from $43.00 to $54.00 in a report on Wednesday. Wolfe Research upgraded Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $52.00 price target for the company in a research note on Friday, May 29th. TheStreet cut Alaska Air Group from a “c” rating to a “d+” rating in a research note on Friday, May 15th. Deutsche Bank decreased their price target 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. Finally, Bank of America upgraded Alaska Air Group from a “neutral” rating to a “buy” rating in a research note on Monday, June 8th.

Several hedge funds have recently bought and sold shares of ALK. Wealth Quarterback LLC acquired a new position in Alaska Air Group during the 4th quarter worth $1,165,911,000. FMR LLC grew its stake in Alaska Air Group by 99.2% during the 4th quarter. FMR LLC now owns 2,546,789 shares of the transportation company’s stock worth $172,544,000 after purchasing an additional 1,268,179 shares in the last quarter. Parnassus Investments CA grew its stake in Alaska Air Group by 56.8% during the 1st quarter. Parnassus Investments CA now owns 2,900,000 shares of the transportation company’s stock worth $82,563,000 after purchasing an additional 1,050,000 shares in the last quarter. AQR Capital Management LLC grew its stake in Alaska Air Group by 212.9% during the 1st quarter. AQR Capital Management LLC now owns 1,153,145 shares of the transportation company’s stock worth $32,830,000 after purchasing an additional 784,660 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Alaska Air Group by 398.7% during the 4th quarter. Renaissance Technologies LLC now owns 832,327 shares of the transportation company’s stock worth $56,390,000 after purchasing an additional 665,427 shares in the last quarter. Hedge funds and other institutional investors own 80.21% of the company’s stock.

NYSE:ALK traded up $2.88 during midday trading on Monday, hitting $38.47. 6,091,883 shares of the company traded hands, compared to its average volume of 4,960,184. The firm’s fifty day moving average is $32.44 and its 200-day moving average is $49.30. Alaska Air Group has a 12-month low of $20.02 and a 12-month high of $72.22. The firm has a market capitalization of $4.36 billion, a P/E ratio of 8.95 and a beta of 1.49. 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 quarterly earnings results on Tuesday, May 5th. The transportation company reported ($0.82) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.27) by $0.45. Alaska Air Group had a return on equity of 16.29% and a net margin of 6.24%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm posted $0.17 EPS. Alaska Air Group’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, research analysts expect that Alaska Air Group will post -5.77 EPS for the current fiscal year.

Alaska Air Group Company Profile

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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Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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