Citigroup Raises Alaska Air Group (NYSE:ALK) Price Target to $70.00

Alaska Air Group (NYSE:ALK) had its price target increased by research analysts at Citigroup from $69.00 to $70.00 in a research report issued on Monday, April 16th. The brokerage presently has a “neutral” rating on the transportation company’s stock. Citigroup’s target price suggests a potential upside of 2.99% from the company’s current price.

Several other equities analysts have also commented on ALK. Buckingham Research reduced their price objective on Alaska Air Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Imperial Capital reiterated an “in-line” rating and set a $66.00 price objective (down from $70.00) on shares of Alaska Air Group in a research report on Thursday, February 1st. Morgan Stanley increased their price objective on Alaska Air Group from $74.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, April 16th. Zacks Investment Research upgraded Alaska Air Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 27th. Finally, Cowen reiterated an “outperform” rating and set a $84.00 price objective (down from $93.00) on shares of Alaska Air Group in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $83.86.

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Shares of NYSE:ALK traded up $2.58 on Monday, hitting $67.97. The company’s stock had a trading volume of 1,281,812 shares, compared to its average volume of 2,511,236. Alaska Air Group has a 1 year low of $57.60 and a 1 year high of $95.75. The stock has a market cap of $8,042.75, a P/E ratio of 10.01, a PEG ratio of 1.47 and a beta of 0.75. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.61.



Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Monday, April 23rd. The transportation company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Alaska Air Group had a return on equity of 24.39% and a net margin of 12.96%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 EPS. equities research analysts expect that Alaska Air Group will post 5.71 EPS for the current fiscal year.

In other news, VP Brandon Pedersen sold 2,700 shares of Alaska Air Group stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $65.14, for a total value of $175,878.00. Following the sale, the vice president now directly owns 26,888 shares in the company, valued at approximately $1,751,484.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gary L. Beck sold 6,360 shares of Alaska Air Group stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $65.10, for a total value of $414,036.00. Following the completion of the sale, the chief executive officer now owns 3,316 shares in the company, valued at $215,871.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,373 shares of company stock worth $884,697. 0.56% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of ALK. Dimensional Fund Advisors LP grew its position in shares of Alaska Air Group by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,262,058 shares of the transportation company’s stock worth $96,254,000 after buying an additional 38,870 shares during the last quarter. OxFORD Asset Management LLP lifted its stake in shares of Alaska Air Group by 49.9% in the 3rd quarter. OxFORD Asset Management LLP now owns 15,312 shares of the transportation company’s stock valued at $1,167,000 after purchasing an additional 5,097 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its stake in shares of Alaska Air Group by 4.3% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 34,219 shares of the transportation company’s stock valued at $2,608,000 after purchasing an additional 1,401 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Alaska Air Group by 8.2% in the 3rd quarter. Janus Henderson Group PLC now owns 698,148 shares of the transportation company’s stock valued at $53,248,000 after purchasing an additional 53,191 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Alaska Air Group by 101.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,192 shares of the transportation company’s stock valued at $1,617,000 after purchasing an additional 10,652 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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About Alaska Air Group

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.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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