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

Alaska Air Group, Inc. (NYSE:ALK)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $76.94 and last traded at $77.31, with a volume of 564074 shares traded. The stock had previously closed at $75.34.

Analyst Ratings Changes

ALK has been the topic of a number of analyst reports. Melius upgraded 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 report on Monday, October 28th. 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 report on Wednesday, December 11th. JPMorgan Chase & Co. lifted their target price on shares of Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Bank of America boosted their price objective on shares of Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Melius Research upgraded 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. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.86.

Alaska Air Group Price Performance

The business’s 50 day moving average price is $68.62 and its two-hundred day moving average price is $52.71. The stock has a market cap of $9.77 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 0.69 and a beta of 1.55. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, topping the consensus estimate 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 Buying and Selling

In other Alaska Air Group news, COO Muehlen Constance E. Von sold 4,000 shares of Alaska Air Group stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $63.09, for a total value of $252,360.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew R. Harrison sold 91,745 shares of Alaska Air Group stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $71.14, for a total transaction of $6,526,739.30. Following the completion of the transaction, the executive vice president now directly owns 20,638 shares of the company’s stock, valued at $1,468,187.32. This trade represents a 81.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,441 shares of company stock valued at $11,247,722 over the last quarter. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Avior Wealth Management LLC raised its holdings in shares of Alaska Air Group by 44.8% during the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 182 shares during the last quarter. Pacific Center for Financial Services bought a new position in shares of Alaska Air Group in the third quarter worth approximately $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 acquiring an additional 474 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Alaska Air Group during the third quarter worth $52,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Alaska Air Group during the fourth quarter worth $52,000. 81.90% of the stock is owned by hedge funds and other institutional investors.

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.