Raymond James Believes Alaska Air (ALK) Still Has Room to Grow

Raymond James analyst Savanthi Syth maintained a Buy rating on Alaska Air (ALK) today. The company’s shares closed last Thursday at $66.96, close to its 52-week high of $74.25.

According to TipRanks.com, Syth is a 5-star analyst with an average return of 15.0% and a 57.7% success rate. Syth covers the Industrial Goods sector, focusing on stocks such as Allegiant Travel Company, United Airlines Holdings, and Southwest Airlines.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alaska Air with a $85.56 average price target, implying a 22.2% upside from current levels. In a report issued on April 13, UBS also maintained a Buy rating on the stock with a $88.00 price target.

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Alaska Air’s market cap is currently $8.56B and has a P/E ratio of -6.20. The company has a Price to Book ratio of 8.87.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ALK in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Alaska Air Group, Inc. is a holding company, which through its subsidiaries, Alaska Airlines, Inc. and Horizon Air Industries, Inc., engages in the provision of air transportation services. It operates through three segments: Alaska Mainline, Alaska Regional and Horizon. The Alaska Mainline segment includes flying Boeing 737 jets and all associated revenues and costs. The Alaska Regional segment records actual on-board passenger revenue, less costs such as fuel, distribution costs, and payments made to Horizon, SkyWest and PenAir under the respective Capacity Purchase Agreements. The Horizon segment operates turboprop Q400 aircraft. The company was founded in 1985 and is headquartered in Seattle, WA.

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