Alaska Air Group (NYSE:ALK) had its price objective increased by Morgan Stanley from $76.00 to $81.00 in a research note issued to investors on Monday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the transportation company’s stock.

Several other brokerages also recently weighed in on ALK. Citigroup reduced their target price on Alaska Air Group from $74.00 to $65.00 and set a neutral rating for the company in a research note on Wednesday, March 6th. Zacks Investment Research downgraded Alaska Air Group from a buy rating to a hold rating in a research note on Monday, March 4th. Buckingham Research reduced their price objective on Alaska Air Group from $88.00 to $80.00 and set a buy rating for the company in a research note on Friday, March 8th. Vertical Research assumed coverage on Alaska Air Group in a research note on Monday, February 4th. They issued a hold rating for the company. Finally, Bank of America reissued a neutral rating and issued a $62.00 price objective (down from $70.00) on shares of Alaska Air Group in a research note on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Alaska Air Group currently has a consensus rating of Buy and an average target price of $76.43.

Shares of ALK stock opened at $61.36 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.59 and a quick ratio of 0.57. The company has a market cap of $7.50 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 0.64 and a beta of 0.84. Alaska Air Group has a 1-year low of $53.39 and a 1-year high of $74.83.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, April 25th. The transportation company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. Alaska Air Group had a return on equity of 14.97% and a net margin of 5.26%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. On average, sell-side analysts forecast that Alaska Air Group will post 5.7 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, May 21st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Monday, May 20th. Alaska Air Group’s dividend payout ratio is currently 31.39%.

In other Alaska Air Group news, VP Brandon Pedersen sold 4,026 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $62.00, for a total value of $249,612.00. Following the completion of the sale, the vice president now directly owns 26,524 shares of the company’s stock, valued at approximately $1,644,488. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 1,600 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $61.53, for a total value of $98,448.00. Following the completion of the sale, the executive vice president now directly owns 20,567 shares of the company’s stock, valued at $1,265,487.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,326 shares of company stock valued at $642,421. 0.43% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue increased its stake in shares of Alaska Air Group by 10.1% in the 1st quarter. State of Alaska Department of Revenue now owns 26,274 shares of the transportation company’s stock worth $1,473,000 after acquiring an additional 2,409 shares during the last quarter. Verity Asset Management Inc. increased its stake in shares of Alaska Air Group by 17.9% in the 4th quarter. Verity Asset Management Inc. now owns 5,407 shares of the transportation company’s stock worth $329,000 after acquiring an additional 820 shares during the last quarter. BB&T Corp increased its stake in shares of Alaska Air Group by 6.7% in the 1st quarter. BB&T Corp now owns 83,138 shares of the transportation company’s stock worth $4,666,000 after acquiring an additional 5,190 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Alaska Air Group by 1,222.5% during the 4th quarter. Nuveen Asset Management LLC now owns 160,409 shares of the transportation company’s stock worth $9,761,000 after purchasing an additional 148,280 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Alaska Air Group by 18.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 457,190 shares of the transportation company’s stock worth $27,818,000 after purchasing an additional 71,400 shares during the period. 87.95% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 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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