Alaska Air Group (NYSE:ALK) Hits New 12-Month High – Still a Buy?

Shares of Alaska Air Group, Inc. (NYSE:ALK) hit a new 52-week high during trading on Tuesday . The company traded as high as $76.45 and last traded at $75.13, with a volume of 2617564 shares traded. The stock had previously closed at $75.92.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ALK shares. UBS Group increased their price target on shares of Alaska Air Group from $81.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Susquehanna raised Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 target price for the company in a research note on Tuesday, January 7th. TD Cowen lifted their target price on Alaska Air Group from $85.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. increased their price target on Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Citigroup boosted their price objective on shares of Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a report on Monday, December 16th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $74.86.

Alaska Air Group Stock Up 1.2 %

The business’s fifty day moving average is $67.15 and its two-hundred day moving average is $51.55. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 0.67 and a beta of 1.55. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. Equities analysts forecast that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alaska Air Group news, SVP Andrea L. Schneider sold 3,700 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $63.50, for a total transaction of $234,950.00. Following the completion of the transaction, the senior vice president now owns 21,086 shares in the company, valued at $1,338,961. The trade was a 14.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph A. Sprague sold 2,325 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $64.38, for a total transaction of $149,683.50. Following the completion of the sale, the chief executive officer now owns 19,340 shares in the company, valued at $1,245,109.20. The trade was a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 160,441 shares of company stock worth $11,247,722 in the last quarter. 0.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Avior Wealth Management LLC raised its position in shares of Alaska Air Group by 44.8% during the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock worth $38,000 after acquiring an additional 182 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Alaska Air Group during the fourth quarter worth approximately $52,000. EverSource Wealth Advisors LLC lifted its position in shares of Alaska Air Group by 61.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock worth $62,000 after buying an additional 364 shares during the last quarter. Pacific Center for Financial Services acquired a new position in shares of Alaska Air Group in the 3rd quarter valued at $45,000. Finally, Venturi Wealth Management LLC grew its position in shares of Alaska Air Group by 86.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after buying an additional 474 shares during the last quarter. Hedge funds and other 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.