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Why Alaska Air Group (ALK) Could Be Positioned for a Surge?

Alaska Air Group, Inc.ALK is an airline holding company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ALK's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Alaska Air could be a solid choice for investors.

Current Quarter Estimates for ALK

In the past 30 days, 3 estimates have gone higher for Alaska Air while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates rising from $1.29 a share 30 days ago, to $1.34 per share today, a move of 3.9%.

Current Year Estimates for ALK

Meanwhile, Alaska Air's current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, rising from 7.05 per share 30 days ago to 7.10 per share today, an increase of 0.71%.

Alaska Air Group, Inc. Price and Consensus

Alaska Air Group, Inc. Price and Consensus | Alaska Air Group, Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 7.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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