Alaska Air Group (NYSE:ALK) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

ALK has been the subject of several other reports. Morgan Stanley set a $78.00 price target on Alaska Air Group and gave the stock a “buy” rating in a report on Thursday, November 16th. Imperial Capital dropped their price target on Alaska Air Group from $85.00 to $70.00 and set a “line” rating for the company in a report on Thursday, October 26th. J P Morgan Chase & Co cut Alaska Air Group from an “overweight” rating to a “neutral” rating and set a $74.00 price objective for the company. in a report on Wednesday, November 1st. Cowen reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Alaska Air Group in a report on Tuesday, September 12th. Finally, Buckingham Research dropped their price objective on Alaska Air Group from $98.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. Alaska Air Group presently has an average rating of “Buy” and a consensus target price of $91.27.

Alaska Air Group (NYSE ALK) traded down $2.26 during trading hours on Friday, reaching $66.91. The company had a trading volume of 2,760,586 shares, compared to its average volume of 1,672,235. The firm has a market cap of $8,232.94, a PE ratio of 9.09 and a beta of 1.03. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 0.80. Alaska Air Group has a 1-year low of $61.10 and a 1-year high of $101.43.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Wednesday, October 25th. The transportation company reported $2.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.02). The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.13 billion. Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The business’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.20 earnings per share. equities research analysts predict that Alaska Air Group will post 6.77 earnings per share for the current fiscal year.

In other Alaska Air Group news, EVP Andrew R. Harrison sold 540 shares of Alaska Air Group stock in a transaction on Monday, November 27th. The stock was sold at an average price of $65.53, for a total value of $35,386.20. Following the completion of the transaction, the executive vice president now directly owns 20,788 shares of the company’s stock, valued at approximately $1,362,237.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of ALK. LS Investment Advisors LLC increased its stake in shares of Alaska Air Group by 10.9% in the 2nd quarter. LS Investment Advisors LLC now owns 3,146 shares of the transportation company’s stock valued at $282,000 after purchasing an additional 310 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Alaska Air Group by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,700 shares of the transportation company’s stock valued at $691,000 after purchasing an additional 100 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Alaska Air Group by 25.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 114,621 shares of the transportation company’s stock valued at $10,292,000 after purchasing an additional 23,351 shares during the last quarter. ING Groep NV increased its stake in shares of Alaska Air Group by 0.5% in the 2nd quarter. ING Groep NV now owns 6,325 shares of the transportation company’s stock valued at $568,000 after purchasing an additional 32 shares during the last quarter. Finally, Strs Ohio increased its stake in shares of Alaska Air Group by 100.0% in the 2nd quarter. Strs Ohio now owns 11,110 shares of the transportation company’s stock valued at $997,000 after purchasing an additional 5,555 shares during the last quarter. Institutional investors own 88.23% of the company’s stock.

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About Alaska Air Group

Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.

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Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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