Alaska Air Group (NYSE:ALK) Hits New 12-Month High – Should You Buy?

Shares of Alaska Air Group, Inc. (NYSE:ALK) hit a new 52-week high on Tuesday . The stock traded as high as $54.14 and last traded at $53.52, with a volume of 217666 shares. The stock had previously closed at $53.44.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ALK shares. Evercore ISI lowered their price objective 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. Bank of America lifted their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Susquehanna upped their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. TD Cowen lowered their target price on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Finally, UBS Group reissued a “buy” rating and issued a $72.00 price target on shares of Alaska Air Group in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.69.

Alaska Air Group Stock Down 0.5 %

The company’s 50-day simple moving average is $46.92 and its two-hundred day simple moving average is $41.80. The firm has a market capitalization of $6.68 billion, a P/E ratio of 21.23, a P/E/G ratio of 1.21 and a beta of 1.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the firm earned $1.83 EPS. Alaska Air Group’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts expect that Alaska Air Group, Inc. will post 4.26 earnings per share for the current year.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in shares of Alaska Air Group by 4.1% in the third quarter. Franklin Resources Inc. now owns 633,514 shares of the transportation company’s stock worth $28,312,000 after purchasing an additional 24,796 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Alaska Air Group in the 3rd quarter worth $59,000. Geode Capital Management LLC boosted its holdings in Alaska Air Group by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company’s stock worth $93,229,000 after buying an additional 78,186 shares during the period. Barclays PLC increased its stake in Alaska Air Group by 1.8% in the 3rd quarter. Barclays PLC now owns 1,058,564 shares of the transportation company’s stock worth $47,857,000 after buying an additional 18,233 shares in the last quarter. Finally, Pacific Center for Financial Services bought a new stake in Alaska Air Group during the third quarter valued at about $45,000. 81.90% of the stock is owned by hedge funds and other institutional investors.

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.