Alaska Air Group (NYSE:ALK) Price Target Lowered to $78.00 at Morgan Stanley

Alaska Air Group (NYSE:ALK) had its price objective cut by Morgan Stanley from $82.00 to $78.00 in a research note published on Tuesday, PriceTargets.com reports. They currently have an overweight rating on the transportation company’s stock.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their price target on Alaska Air Group from $94.00 to $97.00 and gave the company an overweight rating in a research report on Friday, October 1st. Raymond James decreased their target price on Alaska Air Group from $78.00 to $75.00 and set a strong-buy rating on the stock in a report on Monday, November 29th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $79.00.

ALK opened at $55.79 on Tuesday. The stock has a market cap of $6.99 billion, a PE ratio of 348.69 and a beta of 1.63. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.63. Alaska Air Group has a 1 year low of $46.26 and a 1 year high of $74.25. The stock’s 50 day simple moving average is $52.79 and its 200-day simple moving average is $55.94.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Wednesday, October 20th. The transportation company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.18. Alaska Air Group had a negative return on equity of 18.97% and a net margin of 0.59%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business posted ($3.23) earnings per share. The business’s revenue was up 178.6% compared to the same quarter last year. Equities analysts forecast that Alaska Air Group will post -2.09 earnings per share for the current fiscal year.

In other news, Chairman Bradley D. Tilden sold 4,875 shares of the company’s stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $55.05, for a total transaction of $268,368.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 1,725 shares of the company’s stock in a transaction on Tuesday, November 9th. The shares were sold at an average price of $58.47, for a total value of $100,860.75. The disclosure for this sale can be found here. Insiders have sold 8,300 shares of company stock worth $465,926 in the last ninety days. 0.73% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Eagle Bay Advisors LLC lifted its stake in Alaska Air Group by 266.7% in the third quarter. Eagle Bay Advisors LLC now owns 506 shares of the transportation company’s stock valued at $30,000 after buying an additional 368 shares during the period. Crewe Advisors LLC lifted its stake in Alaska Air Group by 10,833.3% in the second quarter. Crewe Advisors LLC now owns 656 shares of the transportation company’s stock valued at $40,000 after buying an additional 650 shares during the period. Berman Capital Advisors LLC lifted its stake in Alaska Air Group by 47.0% in the third quarter. Berman Capital Advisors LLC now owns 697 shares of the transportation company’s stock valued at $40,000 after buying an additional 223 shares during the period. Dark Forest Capital Management LP lifted its stake in Alaska Air Group by 5,716.7% in the third quarter. Dark Forest Capital Management LP now owns 698 shares of the transportation company’s stock valued at $41,000 after buying an additional 686 shares during the period. Finally, Financial Insights Inc. acquired a new position in Alaska Air Group in the second quarter valued at about $51,000. 74.89% of the stock is currently owned by institutional investors and hedge funds.

About Alaska Air Group

Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional and Horizon. The Mainline segment includes Alaska’s Boeing or Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Canada, Mexico, and Costa Rica.

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Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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