Morgan Stanley set a $78.00 price objective on Alaska Air Group, Inc. (NYSE:ALK) in a report issued on Thursday. The firm currently has a buy rating on the transportation company’s stock.

A number of other equities research analysts also recently issued reports on the stock. ValuEngine downgraded shares of Alaska Air Group from a strong-buy rating to a buy rating in a research report on Friday, September 1st. BidaskClub downgraded shares of Alaska Air Group from a buy rating to a hold rating in a research report on Wednesday, July 19th. Bank of America Corporation cut their target price on shares of Alaska Air Group from $100.00 to $96.00 and set a buy rating for the company in a research report on Friday, October 13th. Zacks Investment Research downgraded shares of Alaska Air Group from a hold rating to a sell rating in a research report on Tuesday, September 12th. Finally, Cowen and Company reiterated a buy rating and issued a $103.00 target price on shares of Alaska Air Group in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $90.53.

Shares of Alaska Air Group (ALK) traded up $0.53 during trading hours on Thursday, hitting $66.40. 1,819,105 shares of the company traded hands, compared to its average volume of 1,468,890. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. The stock has a market cap of $8,100.00, a P/E ratio of 8.38 and a beta of 1.01. Alaska Air Group has a fifty-two week low of $61.10 and a fifty-two week high of $101.43.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.02). The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The firm’s revenue was up 35.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 EPS. sell-side analysts predict that Alaska Air Group will post 6.8 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, November 21st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.81%. Alaska Air Group’s dividend payout ratio (DPR) is 19.23%.

Several institutional investors and hedge funds have recently made changes to their positions in ALK. Mercer Capital Advisers Inc. acquired a new position in shares of Alaska Air Group during the 3rd quarter worth $116,000. Mountain Capital Investment Advisors Inc acquired a new position in Alaska Air Group in the 2nd quarter valued at $122,000. Bank of Nova Scotia Trust Co. acquired a new position in Alaska Air Group in the 3rd quarter valued at $153,000. Bessemer Group Inc. grew its stake in Alaska Air Group by 57.9% in the 2nd quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after buying an additional 695 shares during the last quarter. Finally, Harbour Capital Advisors LLC acquired a new position in Alaska Air Group in the 3rd quarter valued at $200,000. Institutional investors own 89.33% of the company’s stock.

Alaska Air Group Company Profile

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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