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

Alaska Air Group, Inc. (NYSE:ALK - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $65.81 and last traded at $65.80, with a volume of 588954 shares. The stock had previously closed at $64.97.

Analysts Set New Price Targets

Several research firms have recently issued reports on ALK. Morgan Stanley upped their target price on Alaska Air Group from $70.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Evercore ISI reduced their price objective on Alaska Air Group from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, October 3rd. Citigroup lifted their target price on Alaska Air Group from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Monday. Barclays increased their price target on shares of Alaska Air Group from $55.00 to $80.00 and gave the company an "overweight" rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alaska Air Group from $58.00 to $85.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $65.86.

Alaska Air Group Price Performance

The business's 50 day moving average is $52.17 and its two-hundred day moving average is $43.62. 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 firm has a market capitalization of $8.38 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.22 by $0.03. The business had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.83 EPS. Equities research analysts anticipate that Alaska Air Group, Inc. will post 4.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alaska Air Group news, VP Emily Halverson sold 1,329 shares of the company's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $64.41, for a total value of $85,600.89. Following the transaction, the vice president now directly owns 7,150 shares in the company, valued at $460,531.50. This represents a 15.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrea L. Schneider sold 3,700 shares of Alaska Air Group stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $63.50, for a total value of $234,950.00. Following the sale, the senior vice president now owns 21,086 shares of the company's stock, valued at approximately $1,338,961. This trade represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,473 shares of company stock valued at $2,198,342. Company insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On Alaska Air Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Verdence Capital Advisors LLC boosted its stake in Alaska Air Group by 2.2% in the third quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company's stock worth $460,000 after buying an additional 215 shares in the last quarter. QRG Capital Management Inc. lifted its holdings 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 worth $419,000 after acquiring an additional 242 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake 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 purchasing an additional 267 shares in the last quarter. Coastwise Capital Group LLC grew its holdings in shares of Alaska Air Group by 6.0% during the 3rd quarter. Coastwise Capital Group LLC now owns 5,354 shares of the transportation company's stock valued at $242,000 after purchasing an additional 304 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in Alaska Air Group by 3.7% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company's stock worth $397,000 after purchasing an additional 309 shares during the period. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Company Profile

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.