Alaska Air Group (NYSE:ALK – Free Report) had its price objective upped by Barclays from $55.00 to $80.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.
A number of other research firms have also recently commented on ALK. Morgan Stanley lowered their price target on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Evercore ISI lowered their target price on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Susquehanna upped their target price on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Monday, October 28th. Finally, TD Cowen lowered their target price on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.31.
Alaska Air Group Price Performance
Alaska Air Group (NYSE:ALK – Get Free Report) last released its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the company posted $1.83 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that Alaska Air Group will post 4.26 earnings per share for the current year.
Institutional Investors Weigh In On Alaska Air Group
Several institutional investors and hedge funds have recently made changes to their positions in the business. Quadrature Capital Ltd bought a new stake in shares of Alaska Air Group during the 3rd quarter valued at about $319,000. Quantinno Capital Management LP boosted its holdings in Alaska Air Group by 67.5% in the third quarter. Quantinno Capital Management LP now owns 81,324 shares of the transportation company’s stock worth $3,677,000 after acquiring an additional 32,766 shares in the last quarter. Quarry LP boosted its holdings in Alaska Air Group by 259.3% in the third quarter. Quarry LP now owns 1,175 shares of the transportation company’s stock worth $53,000 after acquiring an additional 848 shares in the last quarter. Point72 DIFC Ltd bought a new position in Alaska Air Group in the third quarter worth approximately $532,000. Finally, Integrated Wealth Concepts LLC boosted its holdings in Alaska Air Group by 66.5% in the third quarter. Integrated Wealth Concepts LLC now owns 11,392 shares of the transportation company’s stock worth $515,000 after acquiring an additional 4,550 shares in the last quarter. Institutional investors own 81.90% of the company’s stock.
About Alaska Air Group
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.
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