Buckingham Research Increases Alaska Air Group (ALK) Price Target to $88.00

Alaska Air Group (NYSE:ALK) had its price target boosted by stock analysts at Buckingham Research from $74.00 to $88.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the transportation company’s stock. Buckingham Research’s target price suggests a potential upside of 20.12% from the stock’s current price.

Several other equities research analysts also recently commented on the company. Bank of America reaffirmed a “neutral” rating and set a $71.00 target price (up from $63.00) on shares of Alaska Air Group in a report on Thursday. Imperial Capital upped their target price on Alaska Air Group from $90.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday. Cowen reaffirmed an “outperform” rating and set a $84.00 target price (up from $80.00) on shares of Alaska Air Group in a report on Wednesday. TheStreet raised Alaska Air Group from a “c+” rating to a “b-” rating in a report on Monday, November 26th. Finally, Goldman Sachs Group raised Alaska Air Group from a “buy” rating to a “conviction-buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $80.07.

Shares of NYSE ALK opened at $73.26 on Friday. Alaska Air Group has a 12 month low of $57.53 and a 12 month high of $76.06. The firm has a market cap of $9.03 billion, a PE ratio of 11.03, a P/E/G ratio of 2.49 and a beta of 0.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.69.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 25th. The transportation company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.81 by $0.10. Alaska Air Group had a return on equity of 15.51% and a net margin of 9.57%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.20 billion. On average, research analysts anticipate that Alaska Air Group will post 4.3 earnings per share for the current fiscal year.

In related news, EVP Andrew R. Harrison sold 930 shares of the stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $62.55, for a total value of $58,171.50. Following the completion of the sale, the executive vice president now directly owns 21,562 shares of the company’s stock, valued at approximately $1,348,703.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Shane R. Tackett sold 3,000 shares of the stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $66.81, for a total value of $200,430.00. Following the completion of the sale, the executive vice president now directly owns 8,238 shares of the company’s stock, valued at $550,380.78. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in ALK. Alliancebernstein L.P. raised its stake in shares of Alaska Air Group by 50.7% during the 3rd quarter. Alliancebernstein L.P. now owns 2,584,097 shares of the transportation company’s stock worth $177,941,000 after purchasing an additional 869,058 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Alaska Air Group by 2,856.2% during the 3rd quarter. Schroder Investment Management Group now owns 824,386 shares of the transportation company’s stock worth $56,767,000 after purchasing an additional 796,499 shares in the last quarter. Capital International Investors purchased a new stake in shares of Alaska Air Group during the 3rd quarter worth about $54,117,000. Diamond Hill Capital Management Inc. raised its stake in shares of Alaska Air Group by 248.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 960,848 shares of the transportation company’s stock worth $58,026,000 after purchasing an additional 685,374 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Alaska Air Group by 122.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,099,890 shares of the transportation company’s stock worth $75,738,000 after purchasing an additional 605,047 shares in the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.

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Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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