Alaska Air Group (NYSE:ALK) Sets New 52-Week High – Still a Buy?

Alaska Air Group, Inc. (NYSE:ALK) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.20 and last traded at $47.20, with a volume of 16992 shares trading hands. The stock had previously closed at $45.54.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Evercore ISI dropped 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. Bank of America boosted their price objective on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Susquehanna raised their target price on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. 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. Finally, Citigroup lowered their price target on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.17.

Alaska Air Group Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. The company’s 50 day moving average price is $40.93 and its 200-day moving average price is $40.63. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 0.66 and a beta of 1.60.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd acquired a new stake in Alaska Air Group during the 2nd quarter worth about $28,000. Pacifica Partners Inc. boosted its holdings in shares of Alaska Air Group by 952.4% in the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after buying an additional 1,000 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Alaska Air Group in the second quarter worth approximately $69,000. Halpern Financial Inc. acquired a new stake in shares of Alaska Air Group during the second quarter valued at approximately $81,000. Finally, GAMMA Investing LLC lifted its position in shares of Alaska Air Group by 31.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,602 shares of the transportation company’s stock valued at $105,000 after acquiring an additional 626 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.