Alaska Air Group (NYSE:ALK) Hits New 12-Month High After Earnings Beat

Alaska Air Group, Inc. (NYSE:ALK) shares hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $70.00 and last traded at $69.42, with a volume of 15675 shares. The stock had previously closed at $68.88.

The transportation company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ALK shares. Morgan Stanley lifted their target price on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Monday, October 28th. Bank of America lifted their price target on Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, January 17th. UBS Group increased their price objective on Alaska Air Group from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upped their price target 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. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.57.

Insider Transactions at Alaska Air Group

In other Alaska Air Group news, CFO Shane R. Tackett sold 5,000 shares of Alaska Air Group stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total transaction of $317,800.00. Following the completion of the transaction, the chief financial officer now owns 27,362 shares in the company, valued at approximately $1,739,128.72. The trade was a 15.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Emily Halverson sold 1,329 shares of the stock in a transaction on 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 directly owns 7,150 shares in the company, valued at approximately $460,531.50. This represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,473 shares of company stock worth $2,198,342. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

A number of institutional investors have recently made changes to their positions in ALK. Point72 Asset Management L.P. lifted its holdings in shares of Alaska Air Group by 8.0% during the second quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock valued at $119,960,000 after purchasing an additional 220,030 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Alaska Air Group by 3.9% in the third quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company’s stock worth $93,229,000 after acquiring an additional 78,186 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Alaska Air Group by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company’s stock valued at $72,054,000 after purchasing an additional 6,977 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Alaska Air Group by 45.1% in 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 purchasing an additional 442,331 shares during the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in Alaska Air Group in the fourth quarter worth approximately $82,459,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Alaska Air Group Stock Performance

The business’s fifty day moving average is $61.44 and its 200-day moving average is $48.06. The company has a market cap of $8.72 billion, a PE ratio of 27.71, a P/E/G ratio of 0.61 and a beta of 1.54. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93.

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.