Alaska Air Group, Inc. (ALK) Given “Overweight” Rating at Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Alaska Air Group, Inc. (NYSE:ALK) in a report published on Tuesday morning.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Alaska Air Group from a hold rating to a buy rating and set a $101.00 price target for the company in a report on Tuesday, July 4th. Bank of America Corporation upped their price objective on Alaska Air Group from $115.00 to $120.00 and gave the stock a buy rating in a research note on Friday, June 30th. Stifel Nicolaus restated a buy rating and set a $145.00 price objective on shares of Alaska Air Group in a research note on Friday, May 26th. BidaskClub upgraded Alaska Air Group from a hold rating to a buy rating in a research note on Saturday, July 8th. Finally, Cowen and Company restated an outperform rating and set a $103.00 price objective on shares of Alaska Air Group in a research note on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Alaska Air Group has an average rating of Buy and an average price target of $104.86.

Shares of Alaska Air Group (ALK) opened at 76.00 on Tuesday. The firm has a market capitalization of $9.39 billion, a P/E ratio of 12.36 and a beta of 1.00. The company’s 50 day moving average price is $80.57 and its 200 day moving average price is $87.73. Alaska Air Group has a one year low of $64.19 and a one year high of $101.43.

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). Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the firm posted $2.12 earnings per share. Alaska Air Group’s revenue was up 40.7% compared to the same quarter last year. On average, analysts expect that Alaska Air Group will post $7.67 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were paid a $0.30 dividend. The ex-dividend date was Friday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.57%. Alaska Air Group’s payout ratio is 19.48%.

In other news, Chairman Bradley D. Tilden sold 2,400 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total value of $205,992.00. Following the completion of the transaction, the chairman now owns 140,346 shares of the company’s stock, valued at $12,045,897.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrew R. Harrison sold 2,350 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $86.03, for a total value of $202,170.50. Following the completion of the transaction, the executive vice president now directly owns 21,328 shares of the company’s stock, valued at approximately $1,834,847.84. The disclosure for this sale can be found here. In the last three months, insiders sold 10,350 shares of company stock valued at $937,251. Company insiders own 0.57% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC bought a new position in shares of Alaska Air Group in the first quarter worth $955,000. Schroder Investment Management Group grew its stake in shares of Alaska Air Group by 84.1% in the first quarter. Schroder Investment Management Group now owns 547,645 shares of the transportation company’s stock worth $51,292,000 after purchasing an additional 250,245 shares in the last quarter. Oxford Asset Management bought a new position in shares of Alaska Air Group in the first quarter worth $3,425,000. Principal Financial Group Inc. grew its stake in shares of Alaska Air Group by 149.3% in the second quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock worth $110,457,000 after purchasing an additional 737,020 shares in the last quarter. Finally, Baltimore Capital Management Inc. grew its stake in shares of Alaska Air Group by 505.0% in the second quarter. Baltimore Capital Management Inc. now owns 38,570 shares of the transportation company’s stock worth $3,462,000 after purchasing an additional 32,195 shares in the last quarter. 88.34% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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