Morgan Stanley Analysts Give Alaska Air Group (ALK) a $72.00 Price Target

Morgan Stanley set a $72.00 target price on Alaska Air Group (NYSE:ALK) in a research report report published on Friday morning. The brokerage currently has a buy rating on the transportation company’s stock.

Several other equities analysts also recently weighed in on the company. Imperial Capital raised Alaska Air Group from an in-line rating to an outperform rating and boosted their target price for the company from $62.00 to $95.00 in a research report on Thursday, September 27th. Zacks Investment Research raised Alaska Air Group from a sell rating to a hold rating in a research report on Tuesday, September 25th. Buckingham Research cut their target price on Alaska Air Group from $84.00 to $83.00 and set a buy rating on the stock in a research report on Monday, September 24th. TheStreet raised Alaska Air Group from a c+ rating to a b- rating in a research report on Wednesday, September 19th. Finally, ValuEngine raised Alaska Air Group from a sell rating to a hold rating in a research report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alaska Air Group currently has an average rating of Buy and an average price target of $79.75.

NYSE ALK opened at $66.08 on Friday. The company has a market cap of $8.48 billion, a PE ratio of 9.95, a P/E/G ratio of 2.36 and a beta of 0.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.71 and a current ratio of 0.73. Alaska Air Group has a fifty-two week low of $57.53 and a fifty-two week high of $82.68.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, July 26th. The transportation company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Alaska Air Group had a return on equity of 16.99% and a net margin of 10.28%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.48 EPS. On average, equities analysts expect that Alaska Air Group will post 4.2 earnings per share for the current year.

In other Alaska Air Group news, EVP Shane R. Tackett sold 3,000 shares of the company’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $66.81, for a total value of $200,430.00. Following the transaction, the executive vice president now owns 8,238 shares of the company’s stock, valued at approximately $550,380.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Vident Investment Advisory LLC grew its position in Alaska Air Group by 23.0% in the 2nd quarter. Vident Investment Advisory LLC now owns 4,699 shares of the transportation company’s stock valued at $284,000 after acquiring an additional 879 shares during the last quarter. BancorpSouth Bank lifted its holdings in shares of Alaska Air Group by 12.5% in the 2nd quarter. BancorpSouth Bank now owns 7,989 shares of the transportation company’s stock worth $482,000 after buying an additional 885 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Alaska Air Group by 38.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,238 shares of the transportation company’s stock worth $196,000 after buying an additional 900 shares during the period. Mitchell Capital Management Co. lifted its holdings in shares of Alaska Air Group by 14.5% in the 2nd quarter. Mitchell Capital Management Co. now owns 7,214 shares of the transportation company’s stock worth $436,000 after buying an additional 916 shares during the period. Finally, Gibraltar Capital Management Inc. lifted its holdings in shares of Alaska Air Group by 1.2% in the 2nd quarter. Gibraltar Capital Management Inc. now owns 93,510 shares of the transportation company’s stock worth $5,647,000 after buying an additional 1,079 shares during the period. 88.72% of the stock is currently owned by institutional investors.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.

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Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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