Allegiant Travel (NASDAQ:ALGT) Given “Neutral” Rating at The Goldman Sachs Group

The Goldman Sachs Group restated their neutral rating on shares of Allegiant Travel (NASDAQ:ALGT) in a report issued on Friday, MarketBeat reports. They currently have a $83.00 target price on the transportation company’s stock.

Several other analysts also recently issued reports on ALGT. Evercore ISI boosted their price objective on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. TD Cowen boosted their price target on shares of Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 1st. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Susquehanna lifted their price objective on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Barclays raised their target price on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and an average price target of $70.11.

Allegiant Travel Price Performance

Shares of ALGT traded up $1.61 during trading hours on Friday, hitting $77.69. 487,595 shares of the company were exchanged, compared to its average volume of 372,035. The firm has a fifty day simple moving average of $57.95 and a 200-day simple moving average of $51.85. The company has a market capitalization of $1.43 billion, a PE ratio of -51.79, a PEG ratio of 5.92 and a beta of 1.61. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a one year low of $36.08 and a one year high of $85.91.

Insider Activity at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the sale, the chief operating officer now owns 16,353 shares in the company, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares of the company’s stock, valued at approximately $337,050. This trade represents a 11.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,334 shares of company stock valued at $117,158. 15.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALGT. Janney Montgomery Scott LLC increased its stake in shares of Allegiant Travel by 18.8% in the first quarter. Janney Montgomery Scott LLC now owns 7,799 shares of the transportation company’s stock worth $587,000 after purchasing an additional 1,235 shares during the period. SG Americas Securities LLC bought a new stake in shares of Allegiant Travel in the first quarter valued at approximately $141,000. ProShare Advisors LLC grew its stake in shares of Allegiant Travel by 6.9% in the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock worth $237,000 after acquiring an additional 203 shares during the last quarter. Vanguard Group Inc. increased its position in Allegiant Travel by 2.3% during the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after acquiring an additional 38,612 shares during the period. Finally, Donald Smith & CO. Inc. raised its stake in Allegiant Travel by 106.7% during the 1st quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock valued at $23,299,000 after purchasing an additional 159,892 shares during the last quarter. Institutional investors own 85.81% of the company’s stock.

About Allegiant Travel

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.