Alaska Air Group (NYSE:ALK) Hits New 52-Week High – What’s Next?

Shares of Alaska Air Group, Inc. (NYSE:ALK) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $52.08 and last traded at $51.89, with a volume of 173354 shares. The stock had previously closed at $51.62.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. TD Cowen lowered their price target on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley cut their price objective on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Monday, October 28th. Finally, Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Alaska Air Group has an average rating of “Moderate Buy” and a consensus price target of $54.17.

Alaska Air Group Trading Up 0.3 %

The business’s 50-day moving average is $43.01 and its two-hundred day moving average is $40.96. The stock has a market capitalization of $6.54 billion, a PE ratio of 20.82, a PEG ratio of 0.75 and a beta of 1.59. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK) last posted its quarterly 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. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 earnings per share. On average, analysts anticipate that Alaska Air Group, Inc. will post 4.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alaska Air Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of Alaska Air Group by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock valued at $262,789,000 after purchasing an additional 357,907 shares in the last quarter. Boston Partners grew its position in shares of Alaska Air Group by 4.1% in the 1st quarter. Boston Partners now owns 3,966,594 shares of the transportation company’s stock worth $170,533,000 after acquiring an additional 155,403 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Alaska Air Group by 8.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock valued at $119,960,000 after acquiring an additional 220,030 shares during the last quarter. American Century Companies Inc. lifted its stake in Alaska Air Group by 8.3% during the second quarter. American Century Companies Inc. now owns 1,590,078 shares of the transportation company’s stock worth $64,239,000 after purchasing an additional 122,325 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Alaska Air Group by 8.6% in the first quarter. Clearbridge Investments LLC now owns 1,063,379 shares of the transportation company’s stock worth $45,715,000 after purchasing an additional 83,868 shares during the period. Institutional investors and hedge funds 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.