Citigroup Lowers Alaska Air Group (NYSE:ALK) Price Target to $81.00

Alaska Air Group (NYSE:ALK - Get Free Report) had its target price cut by equities research analysts at Citigroup from $83.00 to $81.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the transportation company's stock. Citigroup's target price suggests a potential upside of 53.55% from the company's previous close.

Several other analysts have also recently commented on ALK. Bank of America raised their price target on Alaska Air Group from $70.00 to $80.00 and gave the company a "buy" rating in a report on Friday, January 17th. The Goldman Sachs Group raised their target price on Alaska Air Group from $70.00 to $79.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. UBS Group boosted their target price on shares of Alaska Air Group from $81.00 to $82.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. Morgan Stanley increased their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Finally, Susquehanna upgraded shares of Alaska Air Group from a "neutral" rating to a "positive" rating and set a $95.00 price objective for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $77.00.

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Alaska Air Group Stock Performance

NYSE:ALK traded down $0.10 during midday trading on Tuesday, reaching $52.75. The stock had a trading volume of 25,756,306 shares, compared to its average volume of 2,447,779. The stock has a market cap of $6.49 billion, a P/E ratio of 17.30, a P/E/G ratio of 0.43 and a beta of 1.50. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. Alaska Air Group has a 12-month low of $32.62 and a 12-month high of $78.08. The firm has a fifty day simple moving average of $67.46 and a two-hundred day simple moving average of $57.03.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, beating 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, equities analysts expect that Alaska Air Group will post 6.03 EPS for the current year.

Insider Activity at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 6,600 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $76.28, for a total value of $503,448.00. Following the completion of the transaction, the executive vice president now directly owns 34,030 shares of the company's stock, valued at $2,595,808.40. The trade was a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Muehlen Constance E. Von sold 22,157 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $75.12, for a total value of $1,664,433.84. Following the sale, the chief operating officer now directly owns 20,026 shares in the company, valued at approximately $1,504,353.12. The trade was a 52.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,725 shares of company stock valued at $11,217,263. 0.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alaska Air Group

Several institutional investors and hedge funds have recently modified their holdings of ALK. Avior Wealth Management LLC raised its holdings 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 valued at $38,000 after acquiring an additional 182 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in Alaska Air Group in the fourth quarter valued at $38,000. Pacific Center for Financial Services acquired a new position in Alaska Air Group in the third quarter valued at $45,000. True Wealth Design LLC purchased a new position in Alaska Air Group during the third quarter worth about $52,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Alaska Air Group in the 4th quarter worth 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.