Alaska Air Group (NYSE:ALK) Hits New 12-Month High – Still a 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 $76.45 and last traded at $75.13, with a volume of 2617564 shares. The stock had previously closed at $75.92.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALK. UBS Group raised their price objective on Alaska Air Group from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Melius 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 report on Monday, October 28th. Melius Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Monday, October 28th. Susquehanna upgraded shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price target on the stock in a research note on Tuesday, January 7th. Finally, Barclays lifted their price objective on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. One investment 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.86.

Alaska Air Group Stock Performance

The company has a market capitalization of $9.36 billion, a PE ratio of 24.18, a PEG ratio of 0.67 and a beta of 1.55. The firm has a 50-day moving average of $67.15 and a two-hundred day moving average of $51.55. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

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, beating 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%. Research analysts anticipate that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Insiders Place Their Bets

In other Alaska Air Group news, EVP Andrew R. Harrison sold 91,745 shares of the stock in a transaction that occurred on 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 owns 20,638 shares of the company’s stock, valued at $1,468,187.32. This represents a 81.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph A. Sprague sold 2,325 shares of Alaska Air Group stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $64.38, for a total value of $149,683.50. Following the completion of the sale, the chief executive officer now directly owns 19,340 shares in the company, valued at $1,245,109.20. This represents a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,441 shares of company stock worth $11,247,722. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC raised its position in shares of Alaska Air Group by 44.8% in the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after buying an additional 182 shares during the last quarter. Pacific Center for Financial Services acquired a new position in shares of Alaska Air Group during the 3rd quarter worth approximately $45,000. Venturi Wealth Management LLC grew its position in shares of Alaska Air Group by 86.0% in the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $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 in the third quarter valued at approximately $52,000. Finally, SBI Securities Co. Ltd. purchased a new position in Alaska Air Group during the fourth quarter worth approximately $52,000. Hedge funds and other 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.