Alaska Air Group (NYSE:ALK) Hits New 52-Week High - What's Next?

Alaska Air Group, Inc. (NYSE:ALK - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $74.86 and last traded at $73.61, with a volume of 2969857 shares traded. The stock had previously closed at $73.25.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Susquehanna upgraded shares of Alaska Air Group from a "neutral" rating to a "positive" rating and set a $95.00 price objective on the stock in a research note on Tuesday, January 7th. Melius raised shares of Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price target on the stock in a research report on Monday, October 28th. TD Cowen boosted their price objective on Alaska Air Group from $85.00 to $110.00 and gave the company a "buy" rating in a report on Friday, January 24th. Melius Research upgraded Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price objective on the stock in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their target price on Alaska Air Group from $58.00 to $85.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $74.86.

Alaska Air Group Trading Up 2.1 %

The firm's 50-day simple moving average is $65.92 and its 200 day simple moving average is $50.81. The stock has a market cap of $9.64 billion, a P/E ratio of 24.91, a PEG ratio of 0.67 and a beta of 1.55. 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 issued its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts anticipate that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Insider Activity

In related news, SVP Andrea L. Schneider sold 1,830 shares of Alaska Air Group stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $73.32, for a total transaction of $134,175.60. Following the transaction, the senior vice president now directly owns 20,286 shares of the company's stock, valued at $1,487,369.52. The trade was a 8.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew R. Harrison sold 13,880 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,548 shares of company stock valued at $9,513,807. Company insiders own 0.68% of the company's stock.

Institutional Trading of Alaska Air Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its position in shares of Alaska Air Group by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 29,816 shares of the transportation company's stock valued at $1,931,000 after acquiring an additional 160 shares in the last quarter. Avior Wealth Management LLC boosted its position in shares of Alaska Air Group by 44.8% in 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 period. Savant Capital LLC grew its holdings in shares of Alaska Air Group by 3.4% during the fourth quarter. Savant Capital LLC now owns 6,284 shares of the transportation company's stock valued at $407,000 after buying an additional 206 shares in the last quarter. Verdence Capital Advisors LLC raised its position in 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 valued at $460,000 after buying an additional 215 shares during the period. Finally, QRG Capital Management Inc. lifted its stake 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 acquiring an additional 242 shares in 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.