Alaska Air Group (NYSE:ALK) Sets New 12-Month High – Here’s What Happened

Shares of Alaska Air Group, Inc. (NYSE:ALK) reached a new 52-week high during trading on Monday . The stock traded as high as $47.20 and last traded at $47.20, with a volume of 16992 shares traded. The stock had previously closed at $45.54.

Analyst Upgrades and Downgrades

ALK has been the topic of several analyst reports. TD Cowen decreased their price objective on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley decreased their price target on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Susquehanna lifted their price target on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Evercore ISI decreased their target price on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. Finally, Barclays began coverage on shares of Alaska Air Group in a report on Monday, October 21st. They issued an “overweight” rating and a $55.00 target price for the company. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.17.

Alaska Air Group Price Performance

The business’s 50 day moving average price is $40.93 and its 200-day moving average price is $40.63. The company has a market cap of $6.01 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 0.66 and a beta of 1.60. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

Hedge Funds Weigh In On Alaska Air Group

A number of institutional investors have recently added to or reduced their stakes in ALK. Altshuler Shaham Ltd acquired a new position in Alaska Air Group during the 2nd quarter worth $28,000. Pacifica Partners Inc. boosted its holdings in Alaska Air Group by 952.4% in 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 during the period. Canada Pension Plan Investment Board acquired a new position in Alaska Air Group in the second quarter worth $69,000. Halpern Financial Inc. acquired a new position in shares of Alaska Air Group in the 2nd quarter valued at about $81,000. Finally, GAMMA Investing LLC grew its holdings in shares of Alaska Air Group by 31.7% during the second quarter. GAMMA Investing LLC now owns 2,602 shares of the transportation company’s stock valued at $105,000 after purchasing an additional 626 shares during the last quarter. Institutional investors and hedge funds 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.