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

Shares of Alaska Air Group, Inc. (NYSE:ALK - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $46.16 and last traded at $46.01, with a volume of 156762 shares. The stock had previously closed at $44.69.

Wall Street Analysts Forecast Growth

ALK has been the subject of a number of research reports. Susquehanna lifted their price objective on Alaska Air Group from $40.00 to $45.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Evercore ISI cut their price objective on shares of Alaska Air Group from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, October 3rd. Citigroup reduced their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. TD Cowen cut their price target on Alaska Air Group from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Thursday, October 3rd. Finally, Bank of America lifted their price objective on Alaska Air Group from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, September 13th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Alaska Air Group currently has a consensus rating of "Moderate Buy" and an average price target of $53.60.

Alaska Air Group Trading Up 1.6 %

The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $5.76 billion, a P/E ratio of 23.89, a PEG ratio of 0.66 and a beta of 1.60. The business has a 50 day moving average of $38.93 and a 200-day moving average of $40.42.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.19. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $3.00 earnings per share. Analysts anticipate that Alaska Air Group, Inc. will post 4.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Alaska Air Group

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Alaska Air Group by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company's stock worth $262,789,000 after buying an additional 357,907 shares in the last quarter. Boston Partners raised its holdings in Alaska Air Group by 4.1% during the first quarter. Boston Partners now owns 3,966,594 shares of the transportation company's stock worth $170,533,000 after acquiring an additional 155,403 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Alaska Air Group by 8.0% during the second quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company's stock valued at $119,960,000 after purchasing an additional 220,030 shares during the last quarter. American Century Companies Inc. grew its stake in Alaska Air Group by 8.3% in the second quarter. American Century Companies Inc. now owns 1,590,078 shares of the transportation company's stock valued at $64,239,000 after purchasing an additional 122,325 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Alaska Air Group by 8.6% in the first quarter. Clearbridge Investments LLC now owns 1,063,379 shares of the transportation company's stock valued at $45,715,000 after purchasing an additional 83,868 shares in the last quarter. Institutional investors own 81.90% of the company's stock.

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.