Alaska Air Group, Inc. (NYSE:ALK) Price Target Cut to $102.00

Alaska Air Group, Inc. (NYSE:ALK) had its price objective cut by Morgan Stanley from $103.00 to $102.00 in a research note released on Monday, July 17th. They currently have an overweight rating on the transportation company’s stock.

Several other research analysts also recently commented on ALK. JPMorgan Chase & Co. set a $116.00 price target on shares of Alaska Air Group and gave the company a buy rating in a report on Saturday, April 1st. BidaskClub downgraded shares of Alaska Air Group from a buy rating to a hold rating in a report on Thursday, June 29th. Imperial Capital dropped their price objective on shares of Alaska Air Group from $101.00 to $98.00 and set an in-line rating for the company in a report on Friday, March 31st. Stifel Nicolaus reaffirmed a buy rating and set a $145.00 price objective on shares of Alaska Air Group in a report on Friday, May 26th. Finally, Cowen and Company reaffirmed an outperform rating and set a $103.00 price objective on shares of Alaska Air Group in a report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Alaska Air Group has a consensus rating of Buy and an average price target of $105.41.

Shares of Alaska Air Group (NYSE ALK) opened at 84.47 on Monday. The firm’s 50-day moving average price is $88.82 and its 200 day moving average price is $90.55. The company has a market capitalization of $10.43 billion, a PE ratio of 13.74 and a beta of 0.95. Alaska Air Group has a 1-year low of $64.19 and a 1-year high of $101.43.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by $0.01. Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the business earned $2.12 earnings per share. The firm’s revenue for the quarter was up 40.7% on a year-over-year basis. Equities analysts predict that Alaska Air Group will post $7.87 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, August 18th. Alaska Air Group’s dividend payout ratio is presently 19.48%.

In other Alaska Air Group news, Chairman Bradley D. Tilden sold 6,500 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $88.72, for a total value of $576,680.00. Following the transaction, the chairman now owns 148,446 shares in the company, valued at $13,170,129.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joseph A. Sprague sold 7,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $90.85, for a total transaction of $635,950.00. Following the completion of the transaction, the senior vice president now owns 7,191 shares in the company, valued at approximately $653,302.35. The disclosure for this sale can be found here. Insiders sold 28,550 shares of company stock valued at $2,547,642 over the last three months. 0.57% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Regentatlantic Capital LLC boosted its position in Alaska Air Group by 0.7% in the first quarter. Regentatlantic Capital LLC now owns 2,907 shares of the transportation company’s stock worth $268,000 after buying an additional 20 shares during the last quarter. Cleararc Capital Inc. boosted its position in Alaska Air Group by 0.7% in the first quarter. Cleararc Capital Inc. now owns 3,001 shares of the transportation company’s stock worth $277,000 after buying an additional 20 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Alaska Air Group by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,183 shares of the transportation company’s stock worth $824,000 after buying an additional 24 shares during the last quarter. ING Groep NV boosted its position in Alaska Air Group by 0.5% in the second quarter. ING Groep NV now owns 6,325 shares of the transportation company’s stock worth $568,000 after buying an additional 32 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in Alaska Air Group by 0.4% in the second quarter. CIBC Asset Management Inc now owns 11,691 shares of the transportation company’s stock worth $1,049,000 after buying an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 93.43% of the company’s stock.

Alaska Air Group Company Profile

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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