Alaska Air Group (NYSE:ALK) Price Target Raised to $80.00 at Barclays

Alaska Air Group (NYSE:ALK) had its price objective raised by Barclays from $55.00 to $80.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the transportation company’s stock.

A number of other analysts also recently commented on the company. Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, October 28th. Bank of America increased their price target on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, October 28th. TD Cowen decreased their target price on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Citigroup decreased their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.31.

Alaska Air Group Stock Up 0.9 %

Shares of Alaska Air Group stock traded up $0.47 on Thursday, hitting $53.35. The company had a trading volume of 990,565 shares, compared to its average volume of 2,267,932. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 1.17 and a beta of 1.59. Alaska Air Group has a 1 year low of $32.00 and a 1 year high of $53.98. The stock has a 50 day moving average of $44.85 and a 200-day moving average of $41.28. 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 (NYSE:ALK) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.22 by $0.03. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 earnings per share. As a group, sell-side analysts forecast that Alaska Air Group will post 4.26 earnings per share for the current year.

Hedge Funds Weigh In On Alaska Air Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd bought a new position in Alaska Air Group in the 3rd quarter valued at approximately $319,000. Quantinno Capital Management LP lifted its position in Alaska Air Group by 67.5% in the 3rd quarter. Quantinno Capital Management LP now owns 81,324 shares of the transportation company’s stock valued at $3,677,000 after acquiring an additional 32,766 shares in the last quarter. Quarry LP lifted its position in Alaska Air Group by 259.3% in the 3rd quarter. Quarry LP now owns 1,175 shares of the transportation company’s stock valued at $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 3rd quarter valued at approximately $532,000. Finally, Integrated Wealth Concepts LLC raised its stake in Alaska Air Group by 66.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,392 shares of the transportation company’s stock valued at $515,000 after buying an additional 4,550 shares during 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.