Alaska Air Group, Inc. (ALK) Given New $91.00 Price Target at Morgan Stanley

Alaska Air Group, Inc. (NYSE:ALK) had its price objective raised by Morgan Stanley from $83.00 to $91.00 in a research report released on Thursday. The firm currently has an overweight rating on the transportation company’s stock.

ALK has been the topic of several other reports. Imperial Capital decreased their price target on shares of Alaska Air Group from $85.00 to $70.00 and set a line rating on the stock in a report on Thursday. ValuEngine lowered shares of Alaska Air Group from a strong-buy rating to a buy rating in a report on Friday, September 1st. Cowen and Company reaffirmed a buy rating and set a $103.00 price target on shares of Alaska Air Group in a report on Tuesday, September 12th. BidaskClub lowered shares of Alaska Air Group from a buy rating to a hold rating in a report on Thursday, June 29th. Finally, Bank of America Corporation boosted their target price on shares of Alaska Air Group from $115.00 to $120.00 and gave the stock a buy rating in a report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Alaska Air Group currently has an average rating of Buy and a consensus price target of $95.58.

Alaska Air Group (NYSE ALK) opened at 66.58 on Thursday. The company has a 50-day moving average of $76.65 and a 200 day moving average of $83.54. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 10.83 and a beta of 0.99. Alaska Air Group has a one year low of $64.77 and a one year high of $101.43.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Wednesday, October 25th. The transportation company reported $2.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.02). The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.13 billion. Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The company’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same period last year, the firm posted $2.20 earnings per share. On average, analysts anticipate that Alaska Air Group will post $6.98 EPS for the current year.

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In other news, Chairman Bradley D. Tilden sold 2,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $85.83, for a total value of $205,992.00. Following the transaction, the chairman now owns 140,346 shares in the company, valued at approximately $12,045,897.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew R. Harrison sold 2,350 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $86.03, for a total transaction of $202,170.50. Following the completion of the transaction, the executive vice president now owns 21,328 shares in the company, valued at approximately $1,834,847.84. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Parametrica Management Ltd acquired a new position in shares of Alaska Air Group in the 3rd quarter worth approximately $425,000. Victory Capital Management Inc. lifted its position in shares of Alaska Air Group by 67.2% in the 3rd quarter. Victory Capital Management Inc. now owns 783,102 shares of the transportation company’s stock worth $59,728,000 after purchasing an additional 314,673 shares during the period. Tillar Wenstrup Advisors LLC lifted its position in shares of Alaska Air Group by 23.9% in the 3rd quarter. Tillar Wenstrup Advisors LLC now owns 26,545 shares of the transportation company’s stock worth $2,025,000 after purchasing an additional 5,121 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Alaska Air Group in the 3rd quarter worth approximately $706,000. Finally, First Business Financial Services Inc. lifted its position in shares of Alaska Air Group by 18.7% in the 3rd quarter. First Business Financial Services Inc. now owns 6,164 shares of the transportation company’s stock worth $470,000 after purchasing an additional 970 shares during the period. Hedge funds and other institutional investors own 87.48% 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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