Alaska Air Group (NYSE:ALK) PT Lowered to $70.00 at Morgan Stanley

Alaska Air Group (NYSE:ALK) had its target price lowered by Morgan Stanley from $75.00 to $70.00 in a research report report published on Monday, Benzinga reports. The firm currently has an overweight rating on the transportation company’s stock.

Several other equities analysts have also weighed in on the stock. Evercore ISI raised their price objective on shares of Alaska Air Group from $55.00 to $65.00 and gave the company an outperform rating in a research report on Thursday, April 4th. TD Cowen raised their price objective on shares of Alaska Air Group from $49.00 to $58.00 and gave the company a buy rating in a research report on Friday, April 19th. Bank of America raised their price objective on shares of Alaska Air Group from $50.00 to $56.00 and gave the company a buy rating in a research report on Friday, April 19th. StockNews.com upgraded shares of Alaska Air Group from a sell rating to a hold rating in a report on Friday, April 19th. Finally, Wolfe Research upgraded shares of Alaska Air Group from a peer perform rating to an outperform rating and set a $55.00 price target on the stock in a report on Friday, May 17th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $55.18.

Alaska Air Group Stock Performance

Shares of ALK opened at $37.84 on Monday. The firm has a 50-day moving average price of $40.60 and a 200 day moving average price of $39.87. The firm has a market capitalization of $4.80 billion, a PE ratio of 20.24, a P/E/G ratio of 0.70 and a beta of 1.60. The company has a quick ratio of 0.63, a current ratio of 0.65 and a debt-to-equity ratio of 0.57. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $50.55.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.19. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.94 billion. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.97%. Alaska Air Group’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.00 EPS. On average, sell-side analysts anticipate that Alaska Air Group will post 4.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alaska Air Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Securities Inc. purchased a new position in shares of Alaska Air Group during the 4th quarter valued at $39,000. LifeSteps Financial Inc. bought a new stake in Alaska Air Group in the first quarter worth $65,000. Parallel Advisors LLC boosted its holdings in Alaska Air Group by 28.4% in the fourth quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock worth $66,000 after purchasing an additional 373 shares in the last quarter. GAMMA Investing LLC bought a new stake in Alaska Air Group in the fourth quarter worth $67,000. Finally, CVA Family Office LLC bought a new stake in Alaska Air Group in the fourth quarter worth $74,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

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.