Alaska Air Group (NYSE:ALK) Reaches New 1-Year High – Here’s Why

Shares of Alaska Air Group, Inc. (NYSE:ALK) hit a new 52-week high on Wednesday . The stock traded as high as $72.41 and last traded at $72.15, with a volume of 204288 shares changing hands. The stock had previously closed at $71.41.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Susquehanna upgraded Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price target for the company in a research report on Tuesday, January 7th. Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, October 28th. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, October 28th. The Goldman Sachs Group lifted their price target on Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Barclays lifted their price target on Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. One 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 currently has an average rating of “Moderate Buy” and an average price target of $74.86.

Alaska Air Group Price Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The stock has a 50 day moving average price of $62.48 and a 200-day moving average price of $48.90. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54.

Alaska Air Group (NYSE:ALK) last issued its quarterly 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 return on equity of 14.78% and a net margin of 3.37%. On average, analysts forecast that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Andrea L. Schneider sold 3,700 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $63.50, for a total value of $234,950.00. Following the transaction, the senior vice president now owns 21,086 shares of the company’s stock, valued at $1,338,961. This represents a 14.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Emily Halverson sold 1,329 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $64.41, for a total value of $85,600.89. Following the completion of the transaction, the vice president now directly owns 7,150 shares in the company, valued at approximately $460,531.50. This trade represents a 15.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,973 shares of company stock valued at $2,852,892. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Alaska Air Group

Several large investors have recently modified their holdings of the business. Avior Wealth Management LLC raised its holdings in shares of Alaska Air Group by 44.8% in the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after buying an additional 182 shares during the period. Savant Capital LLC raised its holdings in shares of Alaska Air Group by 3.4% in the 4th 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 during the period. Verdence Capital Advisors LLC raised its holdings in shares of Alaska Air Group by 2.2% in the 3rd 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. QRG Capital Management Inc. raised 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 valued at $419,000 after buying an additional 242 shares during the period. Finally, Greenleaf Trust raised its holdings in shares of Alaska Air Group by 5.1% in the 4th quarter. Greenleaf Trust now owns 5,283 shares of the transportation company’s stock valued at $342,000 after buying an additional 258 shares during the period. Institutional investors and hedge funds 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.