Alaska Air Group (NYSE:ALK) Stock Price Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Alaska Air Group shares moved above their 50-day moving average of $38.92, reaching $40.57 before last trading at about $39.97.
• Analyst opinions are mixed, but the consensus rating is Moderate Buy with a $52.38 price target; ten analysts rate the stock Buy and three rate it Sell.
• Latest quarterly EPS of $0.36 missed the $0.39 estimate, while revenue matched forecasts at $4.31 billion and rose 14.4% year over year.

Alaska Air Group, Inc. (NYSE:ALK - Get Free Report)'s share price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $38.92 and traded as high as $40.57. Alaska Air Group shares last traded at $39.9720, with a volume of 4,261,320 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Raymond James Financial restated an "outperform" rating on shares of Alaska Air Group in a research report on Friday, September 25th. Cantor Fitzgerald set a $41.00 price objective on Alaska Air Group in a research report on Thursday, October 29th. TD Cowen reissued a "buy" rating and set a $41.00 price objective (down from $44.00) on shares of Alaska Air Group in a research note on Thursday, October 29th. Zacks Research cut Alaska Air Group from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 21st. Finally, JPMorgan Chase & Co. decreased their target price on Alaska Air Group from $92.00 to $74.00 and set an "overweight" rating on the stock in a research note on Thursday, October 22nd. Ten research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.38.

Alaska Air Group Price Performance

The firm has a fifty day moving average of $38.92 and a two-hundred day moving average of $43.97. The company has a current ratio of 0.46, a quick ratio of 0.42 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $4.45 billion, a PE ratio of -11.39 and a beta of 1.43.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The transportation company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). Alaska Air Group had a negative net margin of 2.58% and a negative return on equity of 5.42%. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period last year, the company posted $1.05 earnings per share. The business's revenue was up 14.4% on a year-over-year basis. Research analysts anticipate that Alaska Air Group, Inc. will post -4.19 EPS for the current fiscal year.

Insider Buying and Selling at Alaska Air Group

In other news, CEO Benito Minicucci acquired 25,000 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was acquired at an average price of $40.06 per share, for a total transaction of $1,001,500.00. Following the completion of the acquisition, the chief executive officer owned 256,582 shares in the company, valued at $10,278,674.92. This trade represents a 10.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds have recently bought and sold shares of the business. Lido Advisors LLC lifted its holdings in Alaska Air Group by 47.9% in the 3rd quarter. Lido Advisors LLC now owns 7,048 shares of the transportation company's stock worth $273,000 after purchasing an additional 2,282 shares in the last quarter. AlphaCore Capital LLC bought a new position in Alaska Air Group during the third quarter valued at approximately $212,000. Retirement Systems of Alabama boosted its position in shares of Alaska Air Group by 39.0% during the 3rd quarter. Retirement Systems of Alabama now owns 293,322 shares of the transportation company's stock valued at $11,352,000 after acquiring an additional 82,227 shares during the last quarter. Fulcrum Asset Management LLP purchased a new position in shares of Alaska Air Group in the 3rd quarter worth $1,118,000. Finally, Brighton Jones LLC grew its stake in shares of Alaska Air Group by 40.4% in the 3rd quarter. Brighton Jones LLC now owns 14,541 shares of the transportation company's stock worth $563,000 after buying an additional 4,181 shares in the last quarter. Institutional investors own 81.90% of the company's stock.

Alaska Air Group Company Profile

Alaska Air Group, Inc is an airline holding company headquartered in Seattle, Washington. Its principal subsidiaries include Alaska Airlines and Hawaiian Airlines, which operate under separate brands while serving passengers throughout North America, the Pacific and other international markets.

Alaska Airlines provides scheduled passenger and air cargo services across the United States, Canada, Mexico, Costa Rica and the Bahamas, with a strong presence on the U.S. West Coast and in Alaska.

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