Alaska Air Group (NYSE:ALK) Hits New 12-Month High – Here’s What Happened

Alaska Air Group, Inc. (NYSE:ALK)’s stock price reached a new 52-week high on Friday . The company traded as high as $65.81 and last traded at $65.80, with a volume of 588954 shares trading hands. The stock had previously closed at $64.97.

Wall Street Analysts Forecast Growth

ALK has been the topic of several research analyst reports. Citigroup lifted their price objective on shares of Alaska Air Group from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Monday, October 28th. Susquehanna increased their target price on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley boosted their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.86.

Alaska Air Group Stock Performance

The stock has a 50-day moving average of $52.17 and a 200 day moving average of $43.62. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. The firm has a market capitalization of $8.42 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $1.83 earnings per share. On average, research analysts anticipate that Alaska Air Group, Inc. will post 4.3 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Andrew R. Harrison sold 13,880 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $64.01, for a total value of $888,458.80. Following the transaction, the executive vice president now directly owns 20,638 shares in the company, valued at $1,321,038.38. This trade represents a 40.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Emily Halverson sold 1,329 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were 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 $460,531.50. This represents a 15.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,473 shares of company stock valued at $2,198,342. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alaska Air Group

Several institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd acquired a new position in Alaska Air Group during the second quarter valued at approximately $28,000. Pacific Center for Financial Services bought a new position in shares of Alaska Air Group during the third quarter worth $45,000. Venturi Wealth Management LLC boosted its position in shares of Alaska Air Group by 86.0% during the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after purchasing an additional 474 shares in the last quarter. Pacifica Partners Inc. grew its holdings in shares of Alaska Air Group by 952.4% in the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after buying an additional 1,000 shares during the period. Finally, True Wealth Design LLC bought a new stake in shares of Alaska Air Group in the 3rd quarter valued at $52,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.