Alaska Air Group Price Target Increased to $78.00 by Analysts at Raymond James (ALK)
Stock analysts at Raymond James lifted their price target on shares of Alaska Air Group (NYSE:ALK) from $73.00 to $78.00 in a report issued on Friday, AnalystRatingsNetwork.com reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 11.19% from the company’s current price.
Shares of 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 52 week low of $32.69 and a 52 week 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 issued its quarterly earnings data on Thursday, October 24th. The company reported $2.21 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $2.09 earnings per share. The company’s quarterly revenue was up 22.4% on a year-over-year basis. Analysts expect that Alaska Air Group will post $5.12 EPS for the current fiscal year.
A number of other firms have also recently commented on ALK. Analysts at JPMorgan Chase & Co. raised their price target on shares of Alaska Air Group from $67.00 to $70.50 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Cowen and Company initiated coverage on shares of Alaska Air Group in a research note to investors on Friday. They set an “outperform” rating and a $83.00 price target on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The stock 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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