Alaska Air Group (NYSE:ALK) Price Target Cut to $61.00 by Analysts at Barclays

Alaska Air Group (NYSE:ALK) had its price target reduced by Barclays from $68.00 to $61.00 in a research report released on Friday, The Fly reports.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Alaska Air Group from $94.00 to $97.00 and gave the company an overweight rating in a report on Friday, October 1st. Raymond James decreased their price target on shares of Alaska Air Group from $78.00 to $75.00 and set a strong-buy rating for the company in a research report on Monday, November 29th. Finally, Morgan Stanley decreased their price objective on shares of Alaska Air Group from $82.00 to $78.00 and set an overweight rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Alaska Air Group presently has a consensus rating of Buy and an average target price of $79.00.

Shares of NYSE:ALK opened at $55.79 on Friday. The business’s 50 day simple moving average is $52.79 and its 200-day simple moving average is $55.94. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 348.69 and a beta of 1.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.98. Alaska Air Group has a 12 month low of $46.26 and a 12 month high of $74.25.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Wednesday, October 20th. The transportation company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.18. Alaska Air Group had a negative return on equity of 18.97% and a net margin of 0.59%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company earned ($3.23) EPS. Alaska Air Group’s revenue was up 178.6% on a year-over-year basis. On average, equities analysts anticipate that Alaska Air Group will post -2.09 earnings per share for the current year.

In other Alaska Air Group news, CFO Shane R. Tackett sold 1,700 shares of the firm’s stock in a transaction that occurred on Thursday, November 11th. The shares were sold at an average price of $56.88, for a total value of $96,696.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Bradley D. Tilden sold 4,875 shares of the firm’s stock in a transaction that occurred on Wednesday, November 3rd. The shares were sold at an average price of $55.05, for a total transaction of $268,368.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,300 shares of company stock worth $465,926. 0.73% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Alaska Air Group by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 13,139,751 shares of the transportation company’s stock worth $792,459,000 after purchasing an additional 236,923 shares during the period. BlackRock Inc. lifted its position in Alaska Air Group by 3.2% in the 2nd quarter. BlackRock Inc. now owns 8,365,883 shares of the transportation company’s stock worth $504,545,000 after buying an additional 260,248 shares in the last quarter. Victory Capital Management Inc. lifted its position in Alaska Air Group by 2.0% in the 3rd quarter. Victory Capital Management Inc. now owns 5,652,030 shares of the transportation company’s stock worth $331,209,000 after buying an additional 110,377 shares in the last quarter. Boston Partners lifted its position in Alaska Air Group by 0.7% in the 3rd quarter. Boston Partners now owns 3,022,650 shares of the transportation company’s stock worth $177,138,000 after buying an additional 19,925 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Alaska Air Group by 16.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,504,869 shares of the transportation company’s stock worth $146,575,000 after buying an additional 350,865 shares in the last quarter. 74.89% of the stock is owned by hedge funds and other institutional investors.

About Alaska Air Group

Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional and Horizon. The Mainline segment includes Alaska’s Boeing or Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Canada, Mexico, and Costa Rica.

Read More: Commodities

The Fly logo

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

Receive News & Ratings for Alaska Air Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group and related companies with MarketBeat.com's FREE daily email newsletter.