Alaska Air Group (NYSE:ALK) Reaches New 12-Month High - Should You Buy?

Alaska Air Group, Inc. (NYSE:ALK - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $47.20 and last traded at $47.20, with a volume of 16992 shares traded. The stock had previously closed at $45.54.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Susquehanna boosted their target price on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Morgan Stanley dropped their price objective on Alaska Air Group from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Monday, July 22nd. Melius upgraded 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. TD Cowen dropped their price target on shares of 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, Barclays assumed coverage on shares of Alaska Air Group in a research report on Monday, October 21st. They set an "overweight" rating and a $55.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Alaska Air Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.17.

Alaska Air Group Stock Up 3.4 %

The firm's 50 day moving average price is $41.17 and its two-hundred day moving average price is $40.66. The firm has a market capitalization of $5.98 billion, a PE ratio of 25.19, a P/E/G ratio of 0.66 and a beta of 1.60. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC bought a new position in shares of Alaska Air Group during the first quarter worth about $217,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Alaska Air Group in the 1st quarter worth approximately $499,000. Janney Montgomery Scott LLC increased its holdings in shares of Alaska Air Group by 3.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,780 shares of the transportation company's stock valued at $764,000 after acquiring an additional 559 shares during the last quarter. swisspartners Advisors Ltd increased its holdings in shares of Alaska Air Group by 3.4% in the 1st quarter. swisspartners Advisors Ltd now owns 130,209 shares of the transportation company's stock valued at $5,598,000 after acquiring an additional 4,270 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Alaska Air Group by 31.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 42,133 shares of the transportation company's stock valued at $1,811,000 after acquiring an additional 10,137 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.