Alaska Air Group (NYSE:ALK) Sets New 12-Month High – What’s Next?

Alaska Air Group, Inc. (NYSE:ALK) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $65.81 and last traded at $65.80, with a volume of 588954 shares. The stock had previously closed at $64.97.

Analysts Set New Price Targets

ALK has been the subject of a number of analyst reports. UBS Group restated a “buy” rating and set a $72.00 price objective on shares of Alaska Air Group in a research report on Tuesday, November 26th. TD Cowen upped their price target on shares of Alaska Air Group from $68.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Susquehanna upped their target price on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley raised their target price on Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Barclays raised their target price on shares of 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 research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.86.

Alaska Air Group Stock Up 1.6 %

The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The stock has a market capitalization of $8.38 billion, a P/E ratio of 26.62, a PEG ratio of 1.24 and a beta of 1.60. The stock’s fifty day moving average is $52.60 and its two-hundred day moving average is $43.79.

Alaska Air Group (NYSE:ALK) last issued its 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. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the firm posted $1.83 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, research analysts predict that Alaska Air Group, Inc. will post 4.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Alaska Air Group

In other news, VP Emily Halverson sold 1,329 shares of Alaska Air Group stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $64.41, for a total transaction of $85,600.89. Following the transaction, the vice president now owns 7,150 shares in the company, valued at approximately $460,531.50. The trade was a 15.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew R. Harrison sold 13,880 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $64.01, for a total value of $888,458.80. Following the completion of the sale, the executive vice president now directly owns 20,638 shares of the company’s stock, valued at approximately $1,321,038.38. This represents a 40.21 % decrease in their ownership of the stock. 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. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alaska Air Group

A number of large investors have recently made changes to their positions in the business. Verdence Capital Advisors LLC boosted its holdings in shares of Alaska Air Group by 2.2% during the third quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company’s stock worth $460,000 after purchasing an additional 215 shares during the period. QRG Capital Management Inc. lifted its position in Alaska Air Group by 2.7% in the 3rd quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock worth $419,000 after buying an additional 242 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of Alaska Air Group by 4.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock valued at $268,000 after buying an additional 267 shares during the period. Coastwise Capital Group LLC grew its holdings in shares of Alaska Air Group by 6.0% during the 3rd quarter. Coastwise Capital Group LLC now owns 5,354 shares of the transportation company’s stock valued at $242,000 after acquiring an additional 304 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its stake in shares of Alaska Air Group by 3.7% in the third quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock worth $397,000 after acquiring an additional 309 shares during the last quarter. 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.