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Why Alaska Air Group (ALK) is a Top Momentum Stock for the Long-Term

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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Alaska Air Group (ALK)

Alaska Air Group, together with its partner regional carriers, serves more than 120 cities across North America. The carrier’s mainline operating fleet included 203 B737 jet aircrafts and 22 Airbus A320 family jets as of Dec 31, 2022. ALK's regional operations include flights operated by Horizon Air, which was acquired in 1986 and SkyWest. The carrier's mainline and regional fleet strength at the end of 2022 was 225 and 86respectively. The carrier serves more than 115 destinations.

ALK is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 2% over the past one week and up 0.1% over the past four weeks. ALK has lost 22.4% in the last one-year period as well. Looking at trading volume, an average of 1,565,909.13 shares exchanged hands over the last 20 trading days.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, two analysts revised their earnings estimate higher in the last 60 days for ALK, while the Zacks Consensus Estimate has increased $0.02 to $4.71 per share. ALK also boasts an average earnings surprise of 22.7%.

Investors should take the time to consider ALK for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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Alaska Air Group, Inc. (ALK) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research