Alaska Air Group (NYSE:ALK) Price Target Cut to $70.00

Alaska Air Group (NYSE:ALK) had its price objective cut by analysts at Morgan Stanley from $75.00 to $70.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s price target indicates a potential upside of 83.87% from the stock’s current price.

Several other equities research analysts also recently issued reports on ALK. Evercore ISI increased their price objective on Alaska Air Group from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Susquehanna reduced their price target on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Bank of America boosted 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. TD Cowen increased their target price on shares of Alaska Air Group from $49.00 to $58.00 and gave the stock a “buy” rating in a research 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 equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alaska Air Group has a consensus rating of “Moderate Buy” and an average price target of $55.82.

Alaska Air Group Stock Performance

Shares of ALK opened at $38.07 on Monday. The company has a 50-day moving average of $40.72 and a two-hundred day moving average of $39.89. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 0.91 and a beta of 1.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.63. Alaska Air Group has a one year low of $30.75 and a one year high of $53.94.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.19. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.97%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the business posted $3.00 EPS. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Alaska Air Group will post 4.14 earnings per share for the current year.

Hedge Funds Weigh In On Alaska Air Group

Institutional investors have recently bought and sold shares of the stock. Boston Partners boosted its stake in shares of Alaska Air Group by 64.6% during the 4th quarter. Boston Partners now owns 3,811,191 shares of the transportation company’s stock worth $148,861,000 after acquiring an additional 1,495,311 shares in the last quarter. Capital Research Global Investors bought a new stake in shares of Alaska Air Group during the 1st quarter worth $36,993,000. Dimensional Fund Advisors LP grew its stake in Alaska Air Group by 13.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,439,909 shares of the transportation company’s stock valued at $212,543,000 after buying an additional 660,455 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in Alaska Air Group by 238.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 869,045 shares of the transportation company’s stock worth $33,954,000 after acquiring an additional 612,575 shares during the period. Finally, Franklin Resources Inc. lifted its position in Alaska Air Group by 4,198.3% during the 4th quarter. Franklin Resources Inc. now owns 571,589 shares of the transportation company’s stock worth $22,332,000 after acquiring an additional 558,291 shares during the last quarter. 81.90% of the stock is currently owned by 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.