Alaska Air Group (NYSE:ALK) Given New $89.00 Price Target at JPMorgan Chase & Co.

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

Other analysts have also recently issued reports about the stock. TD Cowen increased their target price on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Morgan Stanley increased their target price on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Bank of America increased their target price on shares of Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Citigroup raised their price objective on shares of Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, UBS Group raised their price objective on shares of Alaska Air Group from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Alaska Air Group presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Alaska Air Group Stock Up 1.4 %

ALK opened at $66.20 on Monday. Alaska Air Group has a 12 month low of $32.62 and a 12 month high of $78.08. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The company has a market cap of $8.15 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 0.43 and a beta of 1.55. The company has a 50 day moving average of $70.04 and a 200 day moving average of $55.33.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts expect that Alaska Air Group will post 6.03 EPS for the current year.

Insiders Place Their Bets

In other Alaska Air Group news, CEO Joseph A. Sprague sold 2,325 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $64.38, for a total value of $149,683.50. Following the transaction, the chief executive officer now owns 19,340 shares in the company, valued at approximately $1,245,109.20. The trade was a 10.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shane R. Tackett sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $63.56, for a total transaction of $317,800.00. Following the completion of the transaction, the chief financial officer now owns 27,362 shares in the company, valued at $1,739,128.72. The trade was a 15.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,198 shares of company stock valued at $13,415,604 over the last three months. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Alaska Air Group

Hedge funds have recently modified their holdings of the company. Avior Wealth Management LLC increased its position in shares of Alaska Air Group by 44.8% during the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after buying an additional 182 shares during the period. Pacific Center for Financial Services purchased a new position in shares of Alaska Air Group during the third quarter valued at about $45,000. Venturi Wealth Management LLC increased its position in shares of Alaska Air Group by 86.0% during the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after buying an additional 474 shares during the period. True Wealth Design LLC purchased a new position in shares of Alaska Air Group during the third quarter valued at about $52,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Alaska Air Group during the fourth quarter valued at about $52,000. Hedge funds and other 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.