Alaska Air Group (NYSE:ALK) Sets New 1-Year Low – Time to Sell?

Alaska Air Group, Inc. (NYSE:ALK)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $39.28 and last traded at $39.1650, with a volume of 2028151 shares traded. The stock had previously closed at $41.67.

Wall Street Analyst Weigh In

ALK has been the subject of a number of analyst reports. Raymond James Financial set a $65.00 price target on Alaska Air Group and gave the company an “outperform” rating in a research report on Monday, October 27th. Susquehanna set a $58.00 price target on shares of Alaska Air Group and gave the stock a “positive” rating in a report on Friday, October 3rd. Cowen reaffirmed a “buy” rating on shares of Alaska Air Group in a research report on Monday, November 3rd. UBS Group dropped their target price on shares of Alaska Air Group from $90.00 to $83.00 and set a “buy” rating on the stock in a research report on Monday, October 27th. Finally, Wall Street Zen downgraded Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alaska Air Group has a consensus rating of “Moderate Buy” and an average target price of $73.08.

Alaska Air Group Stock Down 6.0%

The firm has a market capitalization of $4.54 billion, a PE ratio of 31.59, a P/E/G ratio of 0.80 and a beta of 1.41. The stock has a 50-day simple moving average of $49.36 and a 200-day simple moving average of $51.65. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 1.12.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, October 23rd. The transportation company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.06). Alaska Air Group had a return on equity of 8.93% and a net margin of 1.06%.The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the company posted $2.25 EPS. The firm’s revenue was up 22.6% compared to the same quarter last year. Analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Foster Dykema Cabot & Partners LLC bought a new stake in Alaska Air Group during the 3rd quarter valued at $28,000. MAI Capital Management boosted its holdings in shares of Alaska Air Group by 80.5% in the second quarter. MAI Capital Management now owns 628 shares of the transportation company’s stock worth $31,000 after acquiring an additional 280 shares during the period. Brooklyn Investment Group grew its position in shares of Alaska Air Group by 41.1% in the first quarter. Brooklyn Investment Group now owns 632 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 184 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of Alaska Air Group in the third quarter valued at $34,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Alaska Air Group by 43.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 838 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 253 shares during the period. 81.90% of the stock is owned by institutional investors.

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.