Alaska Air Group (NYSE:ALK) Reaches New 12-Month High – What’s Next?

Alaska Air Group, Inc. (NYSE:ALK)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $54.14 and last traded at $53.52, with a volume of 217666 shares trading hands. The stock had previously closed at $53.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup reduced their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $70.00 price target on shares of Alaska Air Group in a research note on Friday, November 15th. UBS Group reiterated a “buy” rating and set a $72.00 price objective on shares of Alaska Air Group in a research note on Tuesday. Barclays raised their target price on Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Evercore ISI dropped their price target on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.69.

Alaska Air Group Price Performance

The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 1.19 and a beta of 1.59. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. The stock’s fifty day moving average price is $46.68 and its 200-day moving average price is $41.74.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the firm earned $1.83 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new stake in shares of Alaska Air Group in the second quarter valued at $28,000. Pacific Center for Financial Services acquired a new position in Alaska Air Group in the 3rd quarter valued at about $45,000. Venturi Wealth Management LLC increased its stake in 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 during the period. Pacifica Partners Inc. lifted its position in shares of Alaska Air Group by 952.4% during the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after purchasing an additional 1,000 shares in the last quarter. Finally, True Wealth Design LLC purchased a new position in shares of Alaska Air Group in the third quarter valued at approximately $52,000. Institutional investors and hedge funds own 81.90% of the company’s stock.

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.