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

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

Wall Street Analysts Forecast Growth

Several research firms have commented on ALK. 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 note on Monday, October 28th. TD Cowen boosted their target price on Alaska Air Group from $85.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, January 24th. The Goldman Sachs Group boosted their target price on Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley boosted their target price on Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Citigroup upped their price objective on 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 thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.69.

Alaska Air Group Price Performance

The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 0.69 and a beta of 1.55. The business has a fifty day moving average of $69.26 and a two-hundred day moving average of $53.30.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. As a group, research analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Alaska Air Group news, CFO Shane R. Tackett sold 22,893 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $75.74, for a total value of $1,733,915.82. Following the transaction, the chief financial officer now directly owns 31,873 shares of the company’s stock, valued at $2,414,061.02. This represents a 41.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Andrew R. Harrison sold 91,745 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $71.14, for a total value of $6,526,739.30. Following the completion of the transaction, the executive vice president now directly owns 20,638 shares in the company, valued at approximately $1,468,187.32. This represents a 81.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,598 shares of company stock valued at $12,912,156. 0.68% of the stock is owned by insiders.

Institutional Trading of Alaska Air Group

Several large investors have recently modified their holdings of ALK. Avior Wealth Management LLC grew its holdings in shares of Alaska Air Group by 44.8% during the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock worth $38,000 after purchasing an additional 182 shares in the last quarter. Pacific Center for Financial Services acquired a new stake in shares of Alaska Air Group during the 3rd quarter worth $45,000. Venturi Wealth Management LLC grew its holdings in shares of Alaska Air Group by 86.0% during the 3rd 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. True Wealth Design LLC acquired a new stake in shares of Alaska Air Group during the 3rd quarter worth $52,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Alaska Air Group during the 4th quarter worth $52,000. 81.90% of the stock is 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.