Alaska Air Group (NYSE:ALK) Price Target Raised to $90.00

Alaska Air Group (NYSE:ALK) had its price objective lifted by Morgan Stanley from $70.00 to $90.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the transportation company’s stock.

Several other equities analysts have also recently issued reports on the company. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Monday, October 28th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $70.00 target price on shares of Alaska Air Group in a research note on Friday, November 15th. Evercore ISI dropped their price target on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Bank of America increased their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Susquehanna lifted their target price on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Alaska Air Group Trading Down 1.3 %

Shares of NYSE ALK opened at $62.59 on Wednesday. Alaska Air Group has a 1-year low of $32.62 and a 1-year high of $65.62. The company has a 50-day moving average of $50.51 and a two-hundred day moving average of $43.01. The company has a market cap of $7.95 billion, a PE ratio of 25.24, a P/E/G ratio of 1.24 and a beta of 1.60. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.03. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. Alaska Air Group’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.83 EPS. As a group, equities analysts expect that Alaska Air Group will post 4.3 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Andrew R. Harrison sold 13,880 shares of Alaska Air Group stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $64.01, for a total transaction of $888,458.80. Following the transaction, the executive vice president now owns 20,638 shares in the company, valued at $1,321,038.38. The trade was a 40.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Andrea L. Schneider sold 3,700 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $63.50, for a total value of $234,950.00. Following the completion of the transaction, the senior vice president now owns 21,086 shares of the company’s stock, valued at $1,338,961. This represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,580 shares of company stock valued at $1,693,569 in the last quarter. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in Alaska Air Group by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock worth $262,789,000 after purchasing an additional 357,907 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Alaska Air Group by 8.0% in the second quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock valued at $119,960,000 after purchasing an additional 220,030 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Alaska Air Group by 3.9% during the third quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company’s stock worth $93,229,000 after buying an additional 78,186 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Alaska Air Group by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company’s stock worth $72,054,000 after buying an additional 6,977 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Alaska Air Group by 8.3% in the 2nd quarter. American Century Companies Inc. now owns 1,590,078 shares of the transportation company’s stock valued at $64,239,000 after buying an additional 122,325 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.