Alaska Air Group (NYSE:ALK) Hits New 52-Week High – Should You Buy?

Shares of Alaska Air Group, Inc. (NYSE:ALK) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $74.86 and last traded at $73.61, with a volume of 2969857 shares traded. The stock had previously closed at $73.25.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, October 28th. Morgan Stanley increased their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Bank of America lifted their price objective on shares of Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Citigroup raised their price target on shares of Alaska Air Group from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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 business’s 50 day moving average price is $65.02 and its two-hundred day moving average price is $50.30. The stock has a market cap of $9.49 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 0.66 and a beta of 1.55.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. As a group, sell-side 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 news, SVP Andrea L. Schneider sold 800 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.89, for a total value of $51,112.00. Following the transaction, the senior vice president now owns 20,286 shares in the company, valued at $1,296,072.54. This represents a 3.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Muehlen Constance E. Von sold 4,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $63.09, for a total transaction of $252,360.00. Following the sale, the chief operating officer now directly owns 12,162 shares of the company’s stock, valued at approximately $767,300.58. The trade was a 24.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,548 shares of company stock valued at $9,513,807. 0.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Alaska Air Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Alaska Air Group by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,367 shares of the transportation company’s stock valued at $1,186,000 after purchasing an additional 751 shares during the last quarter. CWM LLC boosted its stake in Alaska Air Group by 224.4% during the third quarter. CWM LLC now owns 14,285 shares of the transportation company’s stock valued at $646,000 after buying an additional 9,882 shares during the last quarter. Clarius Group LLC grew its holdings in Alaska Air Group by 54.0% during the 3rd quarter. Clarius Group LLC now owns 31,304 shares of the transportation company’s stock valued at $1,415,000 after buying an additional 10,982 shares in the last quarter. Blue Trust Inc. increased its stake in Alaska Air Group by 22.6% in the 3rd quarter. Blue Trust Inc. now owns 3,144 shares of the transportation company’s stock worth $142,000 after acquiring an additional 579 shares during the last quarter. Finally, Jade Capital Advisors LLC raised its holdings in shares of Alaska Air Group by 337.5% during the 3rd quarter. Jade Capital Advisors LLC now owns 175,000 shares of the transportation company’s stock worth $7,912,000 after acquiring an additional 135,000 shares in the last quarter. Institutional investors 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.