Alaska Air Group, Inc. (NYSE:ALK - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $69.10 and last traded at $68.09, with a volume of 542804 shares changing hands. The stock had previously closed at $66.29.
Analysts Set New Price Targets
ALK has been the topic of several analyst reports. Bank of America upped their price objective 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. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $70.00 target price on shares of Alaska Air Group in a report on Friday, November 15th. Melius Research upgraded Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price target on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. raised their target price on Alaska Air Group from $58.00 to $85.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. Finally, UBS Group lifted their target price on Alaska Air Group from $81.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.14.
Check Out Our Latest Stock Analysis on ALK
Alaska Air Group Stock Performance
The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average price of $58.10 and a two-hundred day moving average price of $46.18. The stock has a market cap of $8.64 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.54.
Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) 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 company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the firm posted $1.83 EPS. Alaska Air Group's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts forecast that Alaska Air Group, Inc. will post 4.3 earnings per share for the current fiscal year.
Insider Activity at Alaska Air Group
In related news, COO Muehlen Constance E. Von sold 4,000 shares of Alaska Air Group stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $63.09, for a total value of $252,360.00. Following the completion of the sale, the chief operating officer now directly owns 12,162 shares in the company, valued at $767,300.58. The trade was a 24.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 13,880 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $64.01, for a total transaction 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 $1,321,038.38. The trade was a 40.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,473 shares of company stock worth $2,198,342. Insiders own 0.92% of the company's stock.
Institutional Trading of Alaska Air Group
A number of institutional investors have recently modified their holdings of ALK. Verdence Capital Advisors LLC increased its stake in Alaska Air Group by 2.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company's stock valued at $460,000 after purchasing an additional 215 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of 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 valued at $419,000 after acquiring an additional 242 shares during the period. First Trust Direct Indexing L.P. increased its position in shares of Alaska Air Group by 4.7% in 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 acquiring an additional 267 shares during the period. Coastwise Capital Group LLC raised its stake in Alaska Air Group by 6.0% in the 3rd quarter. Coastwise Capital Group LLC now owns 5,354 shares of the transportation company's stock worth $242,000 after acquiring an additional 304 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position in Alaska Air Group by 3.7% during the 3rd 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 period. 81.90% of the stock is currently owned by institutional investors.
Alaska Air Group Company Profile
(
Get Free Report)
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.
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