Alaska Air Group, Inc. (ALK) Stock Rating Reaffirmed by Morgan Stanley
Alaska Air Group, Inc. (NYSE:ALK)‘s stock had its “overweight” rating reiterated by equities research analysts at Morgan Stanley in a research note issued to investors on Tuesday.
A number of other equities analysts also recently weighed in on ALK. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price target on shares of Alaska Air Group in a report on Friday, May 26th. Cowen and Company reissued an “outperform” rating and issued a $103.00 price target on shares of Alaska Air Group in a report on Tuesday, June 20th. BidaskClub downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Bank of America Corporation upped their price objective on shares of Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, June 30th. Finally, Zacks Investment Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a report on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $106.85.
Alaska Air Group (NYSE ALK) opened at 76.21 on Tuesday. The company’s 50-day moving average is $80.26 and its 200-day moving average is $87.58. Alaska Air Group has a 52-week low of $64.19 and a 52-week high of $101.43. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 12.39 and a beta of 1.00.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.52 by ($0.01). The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. Alaska Air Group’s quarterly revenue was up 40.7% compared to the same quarter last year. During the same period last year, the firm posted $2.12 earnings per share. On average, analysts expect that Alaska Air Group will post $7.67 earnings per share for the current fiscal year.
In other news, EVP Andrew R. Harrison sold 2,350 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $86.03, for a total transaction of $202,170.50. Following the sale, the executive vice president now directly owns 21,328 shares in the company, valued at $1,834,847.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Bradley D. Tilden sold 2,400 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $85.83, for a total value of $205,992.00. Following the sale, the chairman now owns 140,346 shares in the company, valued at $12,045,897.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,350 shares of company stock worth $937,251. Company insiders own 0.57% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Securities LLC bought a new stake in shares of Alaska Air Group during the first quarter valued at about $955,000. Schroder Investment Management Group increased its position in shares of Alaska Air Group by 84.1% during the first quarter. Schroder Investment Management Group now owns 547,645 shares of the transportation company’s stock valued at $51,292,000 after buying an additional 250,245 shares during the period. Oxford Asset Management bought a new stake in shares of Alaska Air Group during the first quarter valued at about $3,425,000. Principal Financial Group Inc. increased its position in shares of Alaska Air Group by 149.3% during the second quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock valued at $110,457,000 after buying an additional 737,020 shares during the period. Finally, Baltimore Capital Management Inc. increased its position in shares of Alaska Air Group by 505.0% during the second quarter. Baltimore Capital Management Inc. now owns 38,570 shares of the transportation company’s stock valued at $3,462,000 after buying an additional 32,195 shares during the period. Hedge funds and other institutional investors own 88.34% of the company’s stock.
About Alaska Air Group
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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