Alaska Air Group Now Covered by Analysts at Cowen and Company (ALK)
Research analysts at Cowen and Company initiated coverage on shares of Alaska Air Group (NYSE:ALK) in a report released on Friday, StockRatingsNetwork reports. The firm set an “outperform” rating and a $83.00 price target on the stock. Cowen and Company’s price objective suggests a potential upside of 18.32% from the company’s current price.
Alaska Air Group (NYSE:ALK) traded up 0.67% during mid-day trading on Friday, hitting $70.15. The stock had a trading volume of 530,187 shares. Alaska Air Group has a one year low of $32.69 and a one year high of $68.00. The stock’s 50-day moving average is $59.53 and its 200-day moving average is $58.8. The company has a market cap of $4.901 billion and a price-to-earnings ratio of 14.25.
Alaska Air Group (NYSE:ALK) last released its earnings data on Thursday, October 24th. The company reported $2.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.98 by $0.23. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted $2.09 earnings per share. Alaska Air Group’s revenue was up 22.4% compared to the same quarter last year. On average, analysts predict that Alaska Air Group will post $5.12 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ALK. Analysts at Imperial Capital raised their price target on shares of Alaska Air Group from $70.00 to $78.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, October 8th. They now have a $70.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $71.32.
Alaska Air Group, Inc (NYSE:ALK) is the holding company for Alaska Airlines and Horizon Air.
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