Barclays Initiates Coverage on Alaska Air Group (NYSE:ALK)

Barclays began coverage on shares of Alaska Air Group (NYSE:ALK) in a research note published on Monday, MarketBeat reports. The brokerage issued an overweight rating and a $55.00 price target on the transportation company’s stock.

Other analysts have also recently issued research reports about the company. Susquehanna increased their target price on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Bank of America increased their target price on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. TD Cowen dropped their target price on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Citigroup dropped their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Morgan Stanley dropped their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Alaska Air Group presently has an average rating of “Moderate Buy” and an average target price of $53.80.

Alaska Air Group Stock Down 0.5 %

Shares of NYSE:ALK opened at $45.60 on Monday. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $46.87. The stock has a market cap of $5.79 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 0.66 and a beta of 1.60. The business’s 50 day moving average is $40.71 and its 200 day moving average is $40.64. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

Institutional Trading of Alaska Air Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new stake in shares of Alaska Air Group during the 2nd quarter valued at $28,000. Pacifica Partners Inc. lifted its holdings in shares of Alaska Air Group by 952.4% during the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 1,000 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Alaska Air Group during the 2nd quarter valued at $69,000. Halpern Financial Inc. purchased a new position in Alaska Air Group in the 2nd quarter worth $81,000. Finally, GAMMA Investing LLC raised its stake in Alaska Air Group by 31.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,602 shares of the transportation company’s stock worth $105,000 after acquiring an additional 626 shares during the last quarter. 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.