Alaska Air Group (NYSE:ALK) Sets New 52-Week High – Here’s What Happened

Alaska Air Group, Inc. (NYSE:ALK) shares reached a new 52-week high during trading on Friday . The company traded as high as $69.10 and last traded at $68.09, with a volume of 542804 shares trading hands. The stock had previously closed at $66.29.

Wall Street Analyst Weigh In

ALK has been the subject of a number of recent analyst reports. The Goldman Sachs Group restated a “buy” rating and issued a $70.00 price objective on shares of Alaska Air Group in a research report on Friday, November 15th. Melius upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Monday, October 28th. JPMorgan Chase & Co. increased their target price on Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Susquehanna upgraded Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 target price for the company in a report on Tuesday, January 7th. Finally, TD Cowen increased their target price on Alaska Air Group from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.14.

Alaska Air Group Price Performance

The company has a market cap of $8.64 billion, a P/E ratio of 27.46, a PEG ratio of 1.24 and a beta of 1.54. The company has a fifty day moving average price of $58.48 and a two-hundred day moving average price of $46.40. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.03. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. Alaska Air Group’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.83 EPS. On average, sell-side analysts anticipate that Alaska Air Group, Inc. will post 4.3 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Andrea L. Schneider sold 800 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.89, for a total value of $51,112.00. Following the completion of the sale, the senior vice president now directly owns 20,286 shares in the company, valued at approximately $1,296,072.54. This trade represents a 3.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph A. Sprague sold 2,325 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $64.38, for a total transaction of $149,683.50. Following the completion of the sale, the chief executive officer now owns 19,340 shares of the company’s stock, valued at $1,245,109.20. This trade represents a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,473 shares of company stock worth $2,198,342 in the last quarter. Corporate insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

Several hedge funds have recently bought and sold shares of ALK. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Alaska Air Group by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,753 shares of the transportation company’s stock worth $1,279,000 after acquiring an additional 309 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Alaska Air Group by 24.5% during the fourth quarter. GAMMA Investing LLC now owns 3,462 shares of the transportation company’s stock worth $224,000 after acquiring an additional 681 shares during the period. Retirement Systems of Alabama bought a new stake in shares of Alaska Air Group during the third quarter worth approximately $5,066,000. Franklin Resources Inc. boosted its holdings in shares of Alaska Air Group by 4.1% during the third quarter. Franklin Resources Inc. now owns 633,514 shares of the transportation company’s stock worth $28,312,000 after acquiring an additional 24,796 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Alaska Air Group during the third quarter worth approximately $59,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.