Alaska Air Group (NYSE:ALK) Sets New 52-Week High - Still a Buy?

Alaska Air Group, Inc. (NYSE:ALK - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $76.94 and last traded at $77.31, with a volume of 564074 shares trading hands. The stock had previously closed at $75.34.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Melius Research 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. Bank of America raised their price objective on shares of Alaska Air Group from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Citigroup lifted their price objective on shares of Alaska Air Group from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Monday, December 16th. The Goldman Sachs Group increased their target price on shares of Alaska Air Group from $70.00 to $79.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Finally, UBS Group lifted their price target on shares of Alaska Air Group from $81.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $76.69.

Alaska Air Group Price Performance

The stock has a market capitalization of $8.61 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 0.69 and a beta of 1.55. The business has a fifty day simple moving average of $69.26 and a 200 day simple moving average of $53.30. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. On average, analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Insider Transactions at Alaska Air Group

In other news, COO Muehlen Constance E. Von sold 22,157 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $75.12, for a total value of $1,664,433.84. Following the transaction, the chief operating officer now owns 20,026 shares in the company, valued at $1,504,353.12. The trade was a 52.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrea L. Schneider sold 3,700 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $63.50, for a total value of $234,950.00. Following the completion of the transaction, the senior vice president now directly owns 21,086 shares of the company's stock, valued at approximately $1,338,961. This represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,598 shares of company stock worth $12,912,156 in the last quarter. 0.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alaska Air Group

A number of hedge funds have recently made changes to their positions in the business. Avior Wealth Management LLC increased its holdings in Alaska Air Group by 44.8% during the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company's stock worth $38,000 after buying an additional 182 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Alaska Air Group during the 4th quarter valued at approximately $52,000. EverSource Wealth Advisors LLC increased its stake in shares of Alaska Air Group by 61.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock worth $62,000 after purchasing an additional 364 shares during the last quarter. Pacific Center for Financial Services bought a new stake in shares of Alaska Air Group in the 3rd quarter worth approximately $45,000. Finally, Venturi Wealth Management LLC lifted its stake in Alaska Air Group by 86.0% in the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company's stock valued at $46,000 after purchasing an additional 474 shares during the last quarter. 81.90% of the stock is currently 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.