Alaska Air Group (NYSE:ALK) Given New $68.00 Price Target at TD Cowen

Alaska Air Group (NYSE:ALK) had its price target raised by equities research analysts at TD Cowen from $50.00 to $68.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the transportation company’s stock. TD Cowen’s price objective would indicate a potential upside of 21.69% from the company’s current price.

ALK has been the subject of several other reports. Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Monday, October 28th. Evercore ISI dropped their price objective on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Susquehanna increased their price target on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Citigroup dropped their price target on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.08.

Alaska Air Group Stock Up 2.7 %

Shares of ALK opened at $55.88 on Wednesday. Alaska Air Group has a 12 month low of $32.62 and a 12 month high of $56.95. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 1.19 and a beta of 1.60. The company has a 50-day moving average price of $48.38 and a two-hundred day moving average price of $42.21. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the firm earned $1.83 EPS. Alaska Air Group’s quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts predict that Alaska Air Group will post 4.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Alaska Air Group

Several large investors have recently bought and sold shares of the business. Verdence Capital Advisors LLC raised its position in shares of Alaska Air Group by 2.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company’s stock valued at $460,000 after acquiring an additional 215 shares during the last quarter. QRG Capital Management Inc. increased its holdings in Alaska Air Group by 2.7% in the third quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock valued at $419,000 after purchasing an additional 242 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in Alaska Air Group by 4.7% in the third quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock valued at $268,000 after buying an additional 267 shares during the period. Coastwise Capital Group LLC boosted its stake in Alaska Air Group by 6.0% during the 3rd quarter. Coastwise Capital Group LLC now owns 5,354 shares of the transportation company’s stock worth $242,000 after acquiring an additional 304 shares during the last quarter. Finally, Concurrent Investment Advisors LLC grew its holdings in Alaska Air Group by 3.7% during the third quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock valued at $397,000 after purchasing an additional 309 shares during the period. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Company Profile

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.