Alaska Air Group (NYSE:ALK) Hits New 1-Year High – Still a Buy?

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ALK shares. Barclays increased their price objective on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised their price target on Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Morgan Stanley upped their price objective on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Monday, October 28th. Finally, Susquehanna upgraded shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price target on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.86.

Alaska Air Group Price Performance

The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 0.67 and a beta of 1.55. The business has a 50-day moving average price of $66.36 and a 200 day moving average price of $51.16.

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

Insider Activity at Alaska Air Group

In other Alaska Air Group news, SVP Andrea L. Schneider sold 3,700 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 21,086 shares of the company’s stock, valued at $1,338,961. The trade was a 14.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Shane R. Tackett sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total value of $317,800.00. Following the completion of the sale, the chief financial officer now directly owns 27,362 shares of the company’s stock, valued at approximately $1,739,128.72. This trade represents a 15.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,548 shares of company stock worth $9,513,807. 0.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alaska Air Group

Large investors have recently made changes to their positions in the business. Hennessy Advisors Inc. purchased a new position in Alaska Air Group during the fourth quarter valued at approximately $82,459,000. Assenagon Asset Management S.A. grew its holdings in shares of Alaska Air Group by 2,087.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock valued at $34,490,000 after acquiring an additional 728,019 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Alaska Air Group in the third quarter worth $26,390,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Alaska Air Group by 45.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock worth $64,300,000 after acquiring an additional 442,331 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Alaska Air Group during the fourth quarter valued at $24,241,000. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Company Profile

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.