Alaska Air Group, Inc. (ALK) PT Lowered to $102.00 at Morgan Stanley

Alaska Air Group, Inc. (NYSE:ALK) had its price objective decreased by Morgan Stanley from $103.00 to $102.00 in a research report report published on Monday morning. Morgan Stanley currently has an overweight rating on the transportation company’s stock.

A number of other equities analysts also recently weighed in on ALK. Stifel Nicolaus raised shares of Alaska Air Group from a hold rating to a buy rating and increased their price target for the stock from $105.00 to $145.00 in a research note on Monday, March 20th. Imperial Capital reaffirmed an in-line rating on shares of Alaska Air Group in a research note on Monday, March 20th. Vetr raised shares of Alaska Air Group from a hold rating to a strong-buy rating and set a $124.48 price target on the stock in a research note on Monday, March 20th. Cowen and Company reaffirmed a market perform rating and set a $100.00 price target on shares of Alaska Air Group in a research note on Tuesday, March 28th. Finally, JPMorgan Chase & Co. set a $116.00 price target on shares of Alaska Air Group and gave the stock a buy rating in a research note on Saturday, April 1st. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $105.41.

Alaska Air Group (NYSE ALK) opened at 90.27 on Monday. The firm has a 50-day moving average of $90.45 and a 200-day moving average of $91.20. Alaska Air Group has a 1-year low of $61.61 and a 1-year high of $101.43. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 15.38 and a beta of 0.97.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Wednesday, April 26th. The transportation company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.01. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.77 billion. Alaska Air Group had a net margin of 11.51% and a return on equity of 30.01%. Alaska Air Group’s revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.45 earnings per share. Equities research analysts anticipate that Alaska Air Group will post $8.14 EPS for the current year.

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In related news, Chairman Bradley D. Tilden sold 6,500 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $88.72, for a total transaction of $576,680.00. Following the completion of the sale, the chairman now directly owns 148,446 shares of the company’s stock, valued at approximately $13,170,129.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Joseph A. Sprague sold 7,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $90.85, for a total transaction of $635,950.00. Following the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $653,302.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,800 shares of company stock valued at $2,139,479. Company insiders own 0.57% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Regentatlantic Capital LLC raised its stake in shares of Alaska Air Group by 0.7% in the first quarter. Regentatlantic Capital LLC now owns 2,907 shares of the transportation company’s stock valued at $268,000 after buying an additional 20 shares in the last quarter. Cleararc Capital Inc. raised its stake in shares of Alaska Air Group by 0.7% in the first quarter. Cleararc Capital Inc. now owns 3,001 shares of the transportation company’s stock valued at $277,000 after buying an additional 20 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Alaska Air Group by 1.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,198 shares of the transportation company’s stock valued at $295,000 after buying an additional 45 shares in the last quarter. Cypress Wealth Advisors LLC raised its stake in shares of Alaska Air Group by 1.3% in the first quarter. Cypress Wealth Advisors LLC now owns 3,571 shares of the transportation company’s stock valued at $329,000 after buying an additional 45 shares in the last quarter. Finally, Advantus Capital Management Inc raised its stake in shares of Alaska Air Group by 0.5% in the first quarter. Advantus Capital Management Inc now owns 12,433 shares of the transportation company’s stock valued at $1,147,000 after buying an additional 59 shares in the last quarter. 90.89% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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