After Buckingham and Evercore ISI gave Alaska Air (NYSE: ALK) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Rajeev Lalwani maintained a Buy rating on Alaska Air today and set a price target of $80.00. The company’s shares closed last Monday at $71.17.
According to TipRanks.com, Lalwani is a 4-star analyst with an average return of 5.3% and a 61.7% success rate. Lalwani covers the Services sector, focusing on stocks such as Allegiant Travel Company, Southwest Airlines, and Hawaiian Holdings.
Alaska Air has an analyst consensus of Strong Buy, with a price target consensus of $79.86.
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Based on Alaska Air’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.39 billion and net profit of $322 million. In comparison, last year the company earned revenue of $2.21 billion and had a net profit of $217 million.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ALK in relation to earlier this year. Last month, Brandon Pedersen, the EXEC VP of ALK sold 3,830 shares for a total of $271,892.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Alaska Air Group, Inc. is a holding company, which through its subsidiaries, Alaska Airlines, Inc. and Horizon Air Industries, Inc., engages in the provision of air transportation services. It operates through three segments: Alaska Mainline, Alaska Regional and Horizon.
