Alaska Air Group (NYSE:ALK) Given New $70.00 Price Target at Bank of America

Alaska Air Group (NYSE:ALK - Free Report) had its price objective lowered by Bank of America from $80.00 to $70.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the transportation company's stock.

A number of other brokerages also recently weighed in on ALK. The Goldman Sachs Group raised their price objective on Alaska Air Group from $70.00 to $79.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Citigroup cut their price objective on shares of Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Morgan Stanley increased their target price on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. Susquehanna raised Alaska Air Group from a "neutral" rating to a "positive" rating and set a $95.00 price target on the stock in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. raised their price objective on Alaska Air Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.54.

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Alaska Air Group Trading Down 1.8 %

Shares of NYSE:ALK traded down $0.81 on Thursday, hitting $43.64. 3,118,458 shares of the company's stock were exchanged, compared to its average volume of 2,552,517. Alaska Air Group has a 12 month low of $32.62 and a 12 month high of $78.08. The business's 50 day simple moving average is $64.04 and its two-hundred day simple moving average is $57.93. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 0.43 and a beta of 1.37. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.58.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. Analysts anticipate that Alaska Air Group will post 6.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Alaska Air Group news, CEO Joseph A. Sprague sold 9,500 shares of the firm's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $68.90, for a total value of $654,550.00. Following the transaction, the chief executive officer now owns 9,840 shares in the company, valued at approximately $677,976. This trade represents a 49.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 91,745 shares of the company's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $71.14, for a total transaction of $6,526,739.30. Following the sale, the executive vice president now directly owns 20,638 shares of the company's stock, valued at $1,468,187.32. The trade was a 81.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,725 shares of company stock worth $11,217,263. Insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On Alaska Air Group

A number of institutional investors and hedge funds have recently bought and sold shares of ALK. Avior Wealth Management LLC lifted its stake in Alaska Air Group by 44.8% in the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company's stock worth $38,000 after purchasing an additional 182 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new position in Alaska Air Group during the fourth quarter worth approximately $38,000. SBI Securities Co. Ltd. purchased a new position in Alaska Air Group during the fourth quarter worth approximately $52,000. EverSource Wealth Advisors LLC boosted its stake in Alaska Air Group by 61.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock worth $62,000 after buying an additional 364 shares during the last quarter. Finally, Pacific Center for Financial Services purchased a new stake in Alaska Air Group in the 3rd quarter valued at $45,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.