Alaska Air Group (NYSE:ALK) Price Target Raised to $89.00

Alaska Air Group (NYSE:ALK - Free Report) had its target price boosted by JPMorgan Chase & Co. from $85.00 to $89.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the transportation company's stock.

ALK has been the subject of a number of other research reports. Susquehanna upgraded Alaska Air Group from a "neutral" rating to a "positive" rating and set a $95.00 price target for the company in a report on Tuesday, January 7th. TD Cowen upped their target price on Alaska Air Group from $85.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Barclays increased their price target on Alaska Air Group from $55.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. UBS Group lifted their price objective on Alaska Air Group from $81.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. Finally, Morgan Stanley increased their target price on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Alaska Air Group has a consensus rating of "Moderate Buy" and an average price target of $77.00.

Alaska Air Group Price Performance

Shares of ALK traded up $0.90 during midday trading on Monday, hitting $66.20. 2,395,370 shares of the company traded hands, compared to its average volume of 2,740,756. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 0.43 and a beta of 1.55. The firm has a 50 day moving average of $70.04 and a 200-day moving average of $55.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61. Alaska Air Group has a 52 week low of $32.62 and a 52 week high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. On average, analysts forecast that Alaska Air Group will post 6.03 EPS for the current fiscal year.

Insider Buying and Selling at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 6,600 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $76.28, for a total value of $503,448.00. Following the sale, the executive vice president now directly owns 34,030 shares of the company's stock, valued at approximately $2,595,808.40. This represents a 16.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shane R. Tackett sold 22,893 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $75.74, for a total transaction of $1,733,915.82. Following the transaction, the chief financial officer now directly owns 31,873 shares of the company's stock, valued at approximately $2,414,061.02. This trade represents a 41.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,198 shares of company stock valued at $13,415,604. 0.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Avior Wealth Management LLC increased its holdings in shares of Alaska Air Group by 44.8% during the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company's stock worth $38,000 after buying an additional 182 shares during the last quarter. Pacific Center for Financial Services purchased a new position in shares of Alaska Air Group in the 3rd quarter worth about $45,000. Venturi Wealth Management LLC lifted its stake in shares of Alaska Air Group by 86.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company's stock valued at $46,000 after purchasing an additional 474 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of Alaska Air Group during the 3rd quarter worth about $52,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Alaska Air Group during the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 81.90% of the company's stock.

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.