Goldman Sachs Maintains Alaska Air Buy Recommendation

By 247patrick Updated Jul 26, 12:27PM EDT · Published Jul 26, 6:55AM EDT

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Goldman Sachs Maintains Alaska Air Buy Recommendation — © Boarding1Now / iStock Editorial via Getty Images

Fintel reports that on July 26, 2023, Goldman Sachs maintained coverage of Alaska Air Group (NYSE:ALK) with a Buy recommendation.

Analyst Price Forecast Suggests 36.11% Upside

As of July 6, 2023, the average one-year price target for Alaska Air Group is 65.58. The forecasts range from a low of 54.54 to a high of $78.75. The average price target represents an increase of 36.11% from its latest reported closing price of 48.18.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Alaska Air Group is 10,352MM, an increase of 0.11%. The projected annual non-GAAP EPS is 5.01.

What is the Fund Sentiment?

There are 1094 funds or institutions reporting positions in Alaska Air Group. This is an increase of 26 owner(s) or 2.43% in the last quarter. Average portfolio weight of all funds dedicated to ALK is 0.16%, a decrease of 6.30%. Total shares owned by institutions increased in the last three months by 0.21% to 127,587K shares. The put/call ratio of ALK is 0.77, indicating a bullish outlook.

What are Other Shareholders Doing?

Victory Capital Management holds 7,989K shares representing 6.25% ownership of the company. In it’s prior filing, the firm reported owning 6,956K shares, representing an increase of 12.93%. The firm increased its portfolio allocation in ALK by 9.55% over the last quarter.

VETAX – Victory Sycamore Established Value Fund holds 5,420K shares representing 4.24% ownership of the company. In it’s prior filing, the firm reported owning 4,700K shares, representing an increase of 13.28%. The firm increased its portfolio allocation in ALK by 7.88% over the last quarter.

Primecap Management holds 4,221K shares representing 3.30% ownership of the company. In it’s prior filing, the firm reported owning 4,290K shares, representing a decrease of 1.64%. The firm decreased its portfolio allocation in ALK by 8.43% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,937K shares representing 3.08% ownership of the company. In it’s prior filing, the firm reported owning 3,846K shares, representing an increase of 2.31%. The firm decreased its portfolio allocation in ALK by 7.64% over the last quarter.

VPMCX – Vanguard PRIMECAP Fund Investor Shares holds 3,608K shares representing 2.82% ownership of the company. In it’s prior filing, the firm reported owning 3,676K shares, representing a decrease of 1.89%. The firm decreased its portfolio allocation in ALK by 9.49% over the last quarter.

Alaska Air Group Background Information
(This description is provided by the company.)

Alaska Air Group is an airline holding company based in SeaTac, Washington, United States. The group owns two certificated airlines, Alaska Airlines, a mainline carrier, and Horizon Air, a regional carrier. Alaska Airlines and its regional partners serve more than 115 destinations across the United States and North America. The airline provides essential air service for our guests along with moving crucial cargo shipments, while emphasizing Next-Level Care. Alaska is known for low fares, award-winning customer service and sustainability efforts. Guests can earn and redeem miles on flights to more than 800 destinations worldwide with Alaska and its Global Partners. On March 31, 2021, Alaska will officially become a member of the oneworld global alliance.

This article originally appeared on Fintel