Alaska Air Group (NYSE:ALK) PT Raised to $88.00 at Buckingham Research

Alaska Air Group (NYSE:ALK) had its price target hoisted by equities researchers at Buckingham Research from $78.00 to $88.00 in a report released on Monday, The Fly reports. The firm presently has a “buy” rating on the transportation company’s stock. Buckingham Research’s target price would indicate a potential upside of 27.19% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Cowen reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Alaska Air Group in a research note on Friday, October 11th. ValuEngine cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Citigroup set a $66.00 price target on shares of Alaska Air Group and gave the company a “hold” rating in a research note on Friday, July 26th. Morgan Stanley increased their price target on shares of Alaska Air Group from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Macquarie cut shares of Alaska Air Group from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $79.00 to $63.00 in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $72.93.

Shares of NYSE ALK opened at $69.19 on Monday. Alaska Air Group has a 12-month low of $53.39 and a 12-month high of $74.83. The stock has a market cap of $8.24 billion, a PE ratio of 15.51, a P/E/G ratio of 0.54 and a beta of 0.85. The company has a current ratio of 0.63, a quick ratio of 0.61 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average of $64.83 and a 200 day moving average of $62.44.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, July 25th. The transportation company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.06. Alaska Air Group had a net margin of 6.00% and a return on equity of 16.28%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the company earned $1.66 EPS. Alaska Air Group’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that Alaska Air Group will post 6.22 EPS for the current fiscal year.

In other news, CFO Brandon Pedersen sold 4,024 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $67.01, for a total value of $269,648.24. Following the transaction, the chief financial officer now directly owns 22,500 shares in the company, valued at approximately $1,507,725. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.43% of the company’s stock.

Hedge funds have recently modified their holdings of the company. ZWJ Investment Counsel Inc. raised its holdings in shares of Alaska Air Group by 2.3% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 172,748 shares of the transportation company’s stock valued at $11,213,000 after purchasing an additional 3,913 shares in the last quarter. Cognios Capital LLC raised its holdings in shares of Alaska Air Group by 1.2% in the 3rd quarter. Cognios Capital LLC now owns 36,774 shares of the transportation company’s stock valued at $2,386,000 after purchasing an additional 440 shares in the last quarter. Regentatlantic Capital LLC acquired a new stake in shares of Alaska Air Group in the 3rd quarter valued at $204,000. Brinker Capital Inc. raised its holdings in shares of Alaska Air Group by 18.9% in the 3rd quarter. Brinker Capital Inc. now owns 7,218 shares of the transportation company’s stock valued at $469,000 after purchasing an additional 1,146 shares in the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of Alaska Air Group by 2.9% in the 3rd quarter. Stephens Inc. AR now owns 10,087 shares of the transportation company’s stock valued at $655,000 after purchasing an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

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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