Alaska Air Group (NYSE:ALK) Price Target Raised to $89.00

Alaska Air Group (NYSE:ALK) had its price objective hoisted by JPMorgan Chase & Co. from $85.00 to $89.00 in a research report report published on Monday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

ALK has been the topic of several other research reports. The Goldman Sachs Group upped their price objective on shares of Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Barclays upped their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. TD Cowen upped their target price on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Morgan Stanley upped their target price on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Citigroup upped their target price on shares of Alaska Air Group from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.00.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $66.20 on Monday. The firm’s 50-day moving average price is $70.04 and its 200-day moving average price is $55.33. Alaska Air Group has a 1-year low of $32.62 and a 1-year high of $78.08. The firm has a market capitalization of $8.15 billion, a P/E ratio of 21.71, a P/E/G ratio of 0.43 and a beta of 1.55. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. Equities research analysts anticipate that Alaska Air Group will post 6.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Andrea L. Schneider sold 800 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.89, for a total transaction of $51,112.00. Following the completion of the transaction, the senior vice president now directly owns 20,286 shares of the company’s stock, valued at $1,296,072.54. This represents a 3.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew R. Harrison sold 6,600 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $76.28, for a total transaction of $503,448.00. Following the transaction, the executive vice president now directly owns 34,030 shares of the company’s stock, valued at $2,595,808.40. This represents a 16.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,198 shares of company stock valued at $13,415,604. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Alaska Air Group during the 4th quarter valued at approximately $3,938,000. Jefferies Financial Group Inc. bought a new position in Alaska Air Group in the 4th quarter worth approximately $224,000. Garde Capital Inc. bought a new position in Alaska Air Group in the 4th quarter worth approximately $101,000. American Trust bought a new position in Alaska Air Group in the 4th quarter worth approximately $271,000. Finally, Mackenzie Financial Corp boosted its holdings in Alaska Air Group by 688.2% in the 4th quarter. Mackenzie Financial Corp now owns 197,262 shares of the transportation company’s stock worth $12,773,000 after buying an additional 172,236 shares during the period. 81.90% of the stock is owned by institutional investors.

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.