Barclays Cuts Alaska Air Group (NYSE:ALK) Price Target to $55.00

Alaska Air Group (NYSE:ALK) had its price objective cut by Barclays from $62.00 to $55.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Several other brokerages have also recently commented on ALK. Susquehanna cut their price target on shares of Alaska Air Group from $95.00 to $55.00 and set a “positive” rating on the stock in a research report on Monday, April 7th. The Goldman Sachs Group upped their target price on Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Bank of America reduced their price target on Alaska Air Group from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Citigroup lowered their price target on Alaska Air Group from $83.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Finally, TD Cowen increased their price objective on Alaska Air Group from $54.00 to $62.00 and gave the company a “buy” rating in a report on Friday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Alaska Air Group currently has a consensus rating of “Moderate Buy” and an average price target of $65.92.

Alaska Air Group Price Performance

ALK stock opened at $42.04 on Friday. The stock has a 50-day moving average price of $54.11 and a two-hundred day moving average price of $58.05. The stock has a market cap of $5.16 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.43 and a beta of 1.37. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. Alaska Air Group has a 1 year low of $32.62 and a 1 year high of $78.08.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.05). Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.19 billion. Equities analysts forecast that Alaska Air Group will post 6.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Andrea L. Schneider sold 1,830 shares of Alaska Air Group stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $73.32, for a total transaction of $134,175.60. Following the completion of the sale, the senior vice president now directly owns 20,286 shares of the company’s stock, valued at approximately $1,487,369.52. This trade represents a 8.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 91,745 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $71.14, for a total value of $6,526,739.30. Following the completion of the transaction, the executive vice president now directly owns 20,638 shares in the company, valued at approximately $1,468,187.32. This represents a 81.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,225 shares of company stock valued at $10,562,713. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

A number of hedge funds and other institutional investors have recently modified their holdings of ALK. Barclays PLC boosted its holdings in Alaska Air Group by 1.8% in the 3rd quarter. Barclays PLC now owns 1,058,564 shares of the transportation company’s stock valued at $47,857,000 after purchasing an additional 18,233 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Alaska Air Group during the third quarter worth approximately $59,000. Franklin Resources Inc. grew its position in Alaska Air Group by 4.1% during the third quarter. Franklin Resources Inc. now owns 633,514 shares of the transportation company’s stock worth $28,312,000 after buying an additional 24,796 shares in the last quarter. Retirement Systems of Alabama bought a new position in Alaska Air Group during the 3rd quarter worth $5,066,000. Finally, GAMMA Investing LLC raised its holdings in Alaska Air Group by 24.5% in the 4th quarter. GAMMA Investing LLC now owns 3,462 shares of the transportation company’s stock valued at $224,000 after acquiring an additional 681 shares in the last quarter. Institutional investors and hedge funds 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.