Alaska Air Group (NYSE:ALK) Hits New 52-Week High – Should You Buy?

Alaska Air Group, Inc. (NYSE:ALK) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $70.00 and last traded at $69.42, with a volume of 15675 shares changing hands. The stock had previously closed at $68.88.

Analyst Ratings Changes

ALK has been the subject of several research reports. Morgan Stanley raised their price objective on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised their price objective on Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Monday, October 28th. Evercore ISI reduced their price target on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, October 3rd. Finally, TD Cowen lifted their price target on shares of Alaska Air Group from $68.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.57.

Alaska Air Group Price Performance

The business has a 50 day moving average price of $60.81 and a 200-day moving average price of $47.78. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 0.59 and a beta of 1.54. 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 posted its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The firm had revenue of $3.07 billion for 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%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.83 EPS. Research analysts predict that Alaska Air Group, Inc. will post 4.37 EPS for the current fiscal year.

Insider Buying and Selling at Alaska Air Group

In related news, CFO Shane R. Tackett sold 5,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total value of $317,800.00. Following the transaction, the chief financial officer now directly owns 27,362 shares in the company, valued at $1,739,128.72. This trade represents a 15.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph A. Sprague sold 2,325 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $64.38, for a total transaction of $149,683.50. Following 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,473 shares of company stock valued at $2,198,342. Corporate insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. raised its holdings in shares of Alaska Air Group by 8.0% in the second quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock valued at $119,960,000 after purchasing an additional 220,030 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Alaska Air Group by 3.9% during the third quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company’s stock valued at $93,229,000 after acquiring an additional 78,186 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Alaska Air Group by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company’s stock valued at $72,054,000 after purchasing an additional 6,977 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Alaska Air Group by 45.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock valued at $64,300,000 after acquiring an additional 442,331 shares during the period. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Alaska Air Group during the fourth quarter worth $82,459,000. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Company Profile

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.