Morgan Stanley Forecasts Strong Price Appreciation for Alaska Air Group (NYSE:ALK) Stock

Alaska Air Group (NYSE:ALK - Free Report) had its price target boosted by Morgan Stanley from $70.00 to $90.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the transportation company's stock.

Other analysts have also issued research reports about the stock. Susquehanna increased their target price on shares of Alaska Air Group from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. The Goldman Sachs Group reiterated a "buy" rating and issued a $70.00 price objective on shares of Alaska Air Group in a research note on Friday, November 15th. Melius Research raised Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 target price for the company in a report on Monday, October 28th. UBS Group reiterated a "buy" rating and set a $72.00 price target on shares of Alaska Air Group in a report on Tuesday, November 26th. Finally, Barclays upped their price objective on Alaska Air Group from $55.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating and thirteen 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 a consensus target price of $64.00.

Alaska Air Group Stock Up 4.6 %

NYSE ALK traded up $2.79 during trading hours on Wednesday, hitting $64.08. The company's stock had a trading volume of 5,101,634 shares, compared to its average volume of 2,273,339. The company has a market capitalization of $8.13 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.23 and a beta of 1.60. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. Alaska Air Group has a 52 week low of $32.62 and a 52 week high of $65.28. The company's 50-day simple moving average is $49.29 and its two-hundred day simple moving average is $42.57.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the company earned $1.83 earnings per share. The company's revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts anticipate that Alaska Air Group will post 4.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALK. Cetera Advisors LLC bought a new stake in Alaska Air Group during the 1st quarter worth approximately $227,000. CWM LLC increased its holdings in shares of Alaska Air Group by 13.0% in the second quarter. CWM LLC now owns 4,403 shares of the transportation company's stock worth $178,000 after purchasing an additional 507 shares during the period. QRG Capital Management Inc. raised its position in shares of Alaska Air Group by 4.7% in the second quarter. QRG Capital Management Inc. now owns 9,029 shares of the transportation company's stock worth $365,000 after buying an additional 406 shares in the last quarter. SG Americas Securities LLC bought a new stake in Alaska Air Group during the second quarter valued at $773,000. Finally, Sequoia Financial Advisors LLC grew its position in Alaska Air Group by 13.0% during the second quarter. Sequoia Financial Advisors LLC now owns 5,714 shares of the transportation company's stock worth $231,000 after buying an additional 658 shares in the last quarter. Institutional investors own 81.90% of the company's stock.

About Alaska Air Group

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.