Alaska Air Group (NYSE:ALK) Receives Buy Rating from The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their buy rating on shares of Alaska Air Group (NYSE:ALK) in a research report released on Friday, Marketbeat.com reports. The firm currently has a $70.00 target price on the transportation company’s stock.

ALK has been the topic of several other reports. Susquehanna raised their target price on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Monday, October 28th. Morgan Stanley cut their price objective on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Barclays increased their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.31.

Alaska Air Group Stock Performance

Shares of ALK traded up $1.08 during midday trading on Friday, hitting $53.96. 2,201,951 shares of the stock traded hands, compared to its average volume of 2,273,383. The business’s 50 day moving average price is $45.18 and its two-hundred day moving average price is $41.35. The firm has a market capitalization of $6.85 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. Alaska Air Group has a 1-year low of $32.00 and a 1-year high of $54.01.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period last year, the firm posted $1.83 EPS. Alaska Air Group’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts predict that Alaska Air Group will post 4.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Alaska Air Group

Several large investors have recently modified their holdings of ALK. Capital Research Global Investors purchased a new stake in shares of Alaska Air Group during the first quarter valued at $36,993,000. Assenagon Asset Management S.A. lifted its stake in Alaska Air Group by 2,087.8% during the third quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock valued at $34,490,000 after buying an additional 728,019 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Alaska Air Group during the third quarter valued at about $26,390,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Alaska Air Group by 45.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock worth $64,300,000 after buying an additional 442,331 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Alaska Air Group by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock worth $262,789,000 after acquiring an additional 357,907 shares in the last quarter. 81.90% of the stock is owned by institutional investors.

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.