Alaska Air Group (NYSE:ALK) Reaches New 1-Year High After Earnings Beat

Shares of Alaska Air Group, Inc. (NYSE:ALK) reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $70.00 and last traded at $69.42, with a volume of 15675 shares trading hands. The stock had previously closed at $68.88.

The transportation company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%.

Wall Street Analyst Weigh In

ALK has been the topic of several research reports. Citigroup upped their price target on Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, December 16th. The Goldman Sachs Group lifted their price target on shares of Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Melius Research raised 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 research note on Monday, October 28th. Bank of America lifted their target price on shares of Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Morgan Stanley raised their price target on Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.57.

Insider Activity at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 13,880 shares of Alaska Air Group stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $64.01, for a total value of $888,458.80. Following the sale, the executive vice president now directly owns 20,638 shares in the company, valued at approximately $1,321,038.38. The trade was a 40.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Muehlen Constance E. Von sold 4,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $63.09, for a total transaction of $252,360.00. Following the transaction, the chief operating officer now owns 12,162 shares of the company’s stock, valued at approximately $767,300.58. This represents a 24.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,473 shares of company stock valued at $2,198,342. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alaska Air Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. increased its holdings in Alaska Air Group by 8.0% during the second quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock worth $119,960,000 after buying an additional 220,030 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 valued at $93,229,000 after acquiring an additional 78,186 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Alaska Air Group by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company’s stock valued at $72,054,000 after purchasing an additional 6,977 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Alaska Air Group by 45.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock valued at $64,300,000 after purchasing an additional 442,331 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in Alaska Air Group in the 4th quarter valued at about $82,459,000. Institutional investors own 81.90% of the company’s stock.

Alaska Air Group Price Performance

The business has a fifty day moving average of $61.44 and a 200 day moving average of $48.06. The firm has a market cap of $8.72 billion, a P/E ratio of 27.71, a PEG ratio of 0.61 and a beta of 1.54. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93.

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.