Alaska Air Group Hits 52-Week High, Will the Momentum Keep Going

Seattle: Have you noticed how Alaska Air Group’s stock has been on fire lately? It jumped 9% in just a month and hit a new 52-week high of $69.1. Since the start of the year, it’s up 5.3%, while the broader transportation sector has dipped a bit. Pretty impressive, right?

So, what’s fueling this rise? Well, Alaska Air has been consistently beating earnings expectations. In their latest report, they posted earnings of $2.25 per share, surpassing the forecast of $2.2. They also exceeded revenue estimates by nearly 3%.

Looking ahead, analysts expect Alaska Air to earn $5.93 per share this year, with revenues hitting $11.82 billion. Next year, they’re projected to earn $7.64 per share on $14.66 billion in revenue. That’s a solid growth trajectory!

Now, even though the stock is at a high, it’s essential to consider its valuation. Alaska Air has a Value Score of A, but its Growth and Momentum Scores are a bit mixed. It trades at a premium compared to its peers, but it’s still got a decent PEG ratio of 0.67.

The Zacks Rank is also looking good for Alaska Air, sitting at #1, which is a strong buy signal. This suggests that there might still be room for growth.

When comparing it to competitors, Sun Country Airlines is also doing well, with a Zacks Rank of #2 and solid earnings. The airline industry is thriving, so both Alaska Air and Sun Country could benefit from this positive trend.

In short, Alaska Air Group seems to be in a good spot, and if you’re into stocks, it might be worth keeping an eye on them!