Alaska Air Group (NYSE:ALK) Hits New 12-Month High - Here's Why

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

Analysts Set New Price Targets

Several equities research analysts have commented on ALK shares. TD Cowen decreased their price objective on shares of Alaska Air Group from $52.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, October 3rd. Morgan Stanley decreased 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 note on Monday, July 22nd. Barclays started coverage on shares of Alaska Air Group in a research note on Monday, October 21st. They issued an "overweight" rating and a $55.00 price objective for the company. Bank of America increased their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, September 13th. Finally, Citigroup decreased their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.17.

Alaska Air Group Price Performance

The firm has a market capitalization of $6.44 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 0.77 and a beta of 1.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. The business's 50 day moving average is $43.31 and its two-hundred day moving average is $41.03.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings data 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. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the business earned $1.83 EPS. Alaska Air Group's revenue was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Capital Research Global Investors purchased a new position in Alaska Air Group in the 1st quarter worth $36,993,000. Assenagon Asset Management S.A. raised its position in Alaska Air Group by 2,087.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company's stock worth $34,490,000 after purchasing an additional 728,019 shares during the period. Dimensional Fund Advisors LP raised its position in 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 worth $262,789,000 after purchasing an additional 357,907 shares during the period. Mesirow Institutional Investment Management Inc. purchased a new position in Alaska Air Group in the 2nd quarter worth $11,475,000. Finally, Russell Investments Group Ltd. raised its position in Alaska Air Group by 35.0% in the 1st quarter. Russell Investments Group Ltd. now owns 862,376 shares of the transportation company's stock worth $37,074,000 after purchasing an additional 223,725 shares during the period. 81.90% of the stock is owned by institutional investors.

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.