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

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

Analyst Upgrades and Downgrades

ALK has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Bank of America upped their price objective on Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Barclays upped 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. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. upped their price objective on Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Alaska Air Group presently has an average rating of “Moderate Buy” and a consensus target price of $74.86.

Alaska Air Group Stock Up 1.8 %

The firm has a market capitalization of $9.23 billion, a PE ratio of 23.81, a PEG ratio of 0.59 and a beta of 1.54. The company has a fifty day simple moving average of $62.48 and a two-hundred day simple moving average of $48.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.78% and a net margin of 3.37%. Analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insider Activity at Alaska Air Group

In other Alaska Air Group news, VP Emily Halverson sold 1,329 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $64.41, for a total value of $85,600.89. Following the completion of the sale, the vice president now owns 7,150 shares of the company’s stock, valued at approximately $460,531.50. This trade represents a 15.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrea L. Schneider sold 800 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $63.89, for a total value of $51,112.00. Following the completion of the sale, the senior vice president now directly owns 20,286 shares of the company’s stock, valued at approximately $1,296,072.54. This represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,973 shares of company stock valued at $2,852,892 over the last quarter. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alaska Air Group

Several institutional investors have recently added to or reduced their stakes in the business. Savant Capital LLC raised its stake in shares of Alaska Air Group by 3.4% in the fourth quarter. Savant Capital LLC now owns 6,284 shares of the transportation company’s stock worth $407,000 after purchasing an additional 206 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Alaska Air Group in the fourth quarter worth about $260,000. ARGA Investment Management LP raised its stake in shares of Alaska Air Group by 8.3% in the fourth quarter. ARGA Investment Management LP now owns 1,045,102 shares of the transportation company’s stock worth $67,670,000 after purchasing an additional 80,442 shares during the last quarter. Greenleaf Trust raised its stake in shares of Alaska Air Group by 5.1% in the fourth quarter. Greenleaf Trust now owns 5,283 shares of the transportation company’s stock worth $342,000 after purchasing an additional 258 shares during the last quarter. Finally, SYM FINANCIAL Corp purchased a new position in shares of Alaska Air Group in the fourth quarter worth about $201,000. 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.