Bank of America Forecasts Strong Price Appreciation for Alaska Air Group (NYSE:ALK) Stock

Alaska Air Group (NYSE:ALK - Get Free Report) had its target price boosted by research analysts at Bank of America from $70.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the transportation company's stock. Bank of America's price target suggests a potential upside of 20.58% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Susquehanna raised shares of Alaska Air Group from a "neutral" rating to a "positive" rating and set a $95.00 price objective on the stock in a report on Tuesday, January 7th. Barclays raised their price target on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Melius Research raised shares of Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price objective on the stock in a report on Monday, October 28th. Citigroup raised their target price on shares of Alaska Air Group from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Monday, December 16th. Finally, TD Cowen boosted their target price on shares of Alaska Air Group from $68.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $72.57.

Alaska Air Group Stock Down 1.6 %

Alaska Air Group stock traded down $1.07 during midday trading on Friday, reaching $66.35. The company's stock had a trading volume of 2,127,353 shares, compared to its average volume of 2,601,494. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The stock has a market capitalization of $8.42 billion, a P/E ratio of 26.75, a PEG ratio of 0.67 and a beta of 1.54. The stock's 50-day simple moving average is $59.87 and its 200-day simple moving average is $47.09. Alaska Air Group has a 52-week low of $32.62 and a 52-week high of $69.10.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.22 by $0.03. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. Alaska Air Group's revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $1.83 EPS. On average, sell-side analysts expect that Alaska Air Group will post 4.37 EPS for the current year.

Insider Buying and Selling

In other news, VP Emily Halverson sold 1,329 shares of Alaska Air Group stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $64.41, for a total value of $85,600.89. Following the sale, the vice president now owns 7,150 shares in the company, valued at $460,531.50. This trade represents a 15.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrea L. Schneider sold 800 shares of the company's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $63.89, for a total transaction of $51,112.00. Following the transaction, the senior vice president now owns 20,286 shares of the company's stock, valued at approximately $1,296,072.54. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,473 shares of company stock valued at $2,198,342. 0.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alaska Air Group

Several institutional investors have recently bought and sold shares of ALK. Avior Wealth Management LLC lifted its position in shares of Alaska Air Group by 44.8% in the fourth 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 in the last quarter. Janney Montgomery Scott LLC raised its stake in Alaska Air Group by 40.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,105 shares of the transportation company's stock valued at $525,000 after purchasing an additional 2,320 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Alaska Air Group by 1,155.3% in the 4th quarter. SG Americas Securities LLC now owns 58,671 shares of the transportation company's stock valued at $3,799,000 after purchasing an additional 53,997 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in Alaska Air Group during the 4th quarter worth $214,000. Finally, Merit Financial Group LLC boosted its stake in Alaska Air Group by 14.0% during the 4th quarter. Merit Financial Group LLC now owns 7,385 shares of the transportation company's stock worth $478,000 after purchasing an additional 906 shares during the last quarter. 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.