Alaska Air Group (NYSE:ALK) Reaches New 12-Month High - What's Next?

Alaska Air Group, Inc. (NYSE:ALK - Get Free Report) reached a new 52-week high during 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.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ALK shares. JPMorgan Chase & Co. increased their target price on shares of Alaska Air Group from $58.00 to $85.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Melius upgraded Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price objective for the company in a research report on Monday, October 28th. TD Cowen lifted their target price on Alaska Air Group from $85.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, January 24th. 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 report on Monday, October 28th. Finally, Bank of America increased their price target on Alaska Air Group from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, January 17th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $74.86.

Alaska Air Group Stock Up 2.1 %

The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $9.64 billion, a PE ratio of 24.91, a price-to-earnings-growth ratio of 0.66 and a beta of 1.55. The business's 50-day moving average price is $65.92 and its 200-day moving average price is $50.72.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. As a group, equities research analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Andrea L. Schneider sold 800 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.89, for a total transaction of $51,112.00. Following the transaction, the senior vice president now owns 20,286 shares of the company's stock, valued at approximately $1,296,072.54. This trade represents a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 13,880 shares of the business'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. 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 137,548 shares of company stock worth $9,513,807. Corporate insiders own 0.92% of the company's stock.

Hedge Funds Weigh In On Alaska Air Group

Institutional investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of Alaska Air Group by 32.4% during the 3rd quarter. FMR LLC now owns 1,084,639 shares of the transportation company's stock valued at $49,037,000 after acquiring an additional 265,343 shares during the last quarter. Bank of Montreal Can boosted its position in Alaska Air Group by 54.7% during the third quarter. Bank of Montreal Can now owns 57,577 shares of the transportation company's stock worth $2,591,000 after purchasing an additional 20,347 shares during the period. Friedenthal Financial acquired a new position in Alaska Air Group during the fourth quarter valued at approximately $772,000. Entropy Technologies LP raised its position in shares of Alaska Air Group by 358.9% in the third quarter. Entropy Technologies LP now owns 27,428 shares of the transportation company's stock valued at $1,240,000 after purchasing an additional 21,451 shares during the period. Finally, Quantbot Technologies LP lifted its stake in shares of Alaska Air Group by 156.3% in the third quarter. Quantbot Technologies LP now owns 83,777 shares of the transportation company's stock worth $3,788,000 after buying an additional 51,096 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.