Alaska Air Group (NYSE:ALK) Reaches New 1-Year High Following Better-Than-Expected Earnings

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

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 2.99% and a return on equity of 12.81%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. UBS Group boosted their price target on shares of Alaska Air Group from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group increased their price objective on shares of Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Evercore ISI reduced 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 report on Thursday, October 3rd. Finally, Susquehanna raised shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price target for the company in a report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.57.

Insiders Place Their Bets

In related news, VP Emily Halverson sold 1,329 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $64.41, for a total value of $85,600.89. Following the transaction, the vice president now owns 7,150 shares of the company’s stock, valued at $460,531.50. This trade represents a 15.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Andrea L. Schneider sold 3,700 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $63.50, for a total transaction of $234,950.00. Following the completion of the sale, the senior vice president now directly owns 21,086 shares of the company’s stock, valued at approximately $1,338,961. This trade represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,473 shares of company stock worth $2,198,342 over the last quarter. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALK. Hennessy Advisors Inc. bought a new position in shares of Alaska Air Group during the 4th quarter worth $82,459,000. Assenagon Asset Management S.A. grew its holdings in Alaska Air Group by 2,087.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock worth $34,490,000 after acquiring an additional 728,019 shares in the last quarter. Wellington Management Group LLP purchased a new position in Alaska Air Group during the 3rd quarter valued at about $26,390,000. 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 in the last quarter. Finally, FMR LLC lifted its position in shares of Alaska Air Group by 32.4% in the 3rd quarter. FMR LLC now owns 1,084,639 shares of the transportation company’s stock worth $49,037,000 after purchasing an additional 265,343 shares during the period. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Trading Up 2.0 %

The stock has a market capitalization of $8.72 billion, a P/E ratio of 27.71, a P/E/G ratio of 0.61 and a beta of 1.54. The stock’s 50 day moving average price is $61.44 and its 200-day moving average price is $48.06. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93.

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.