Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $70.00

Allegiant Travel (NASDAQ:ALGT) had its target price boosted by TD Cowen from $50.00 to $70.00 in a report issued on Tuesday morning, Marketbeat Ratings reports. They currently have a hold rating on the transportation company’s stock.

ALGT has been the topic of a number of other reports. Barclays boosted their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Evercore ISI increased their price target on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a report on Friday, November 15th. Morgan Stanley increased their target price on shares of Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Finally, Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $68.00.

Allegiant Travel Price Performance

ALGT stock opened at $82.12 on Tuesday. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $94.45. The business has a fifty day moving average of $73.31 and a two-hundred day moving average of $56.55. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -54.75, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36.

Insiders Place Their Bets

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the sale, the director now owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. The trade was a 3.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,600 shares of company stock valued at $2,476,465 in the last ninety days. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently bought and sold shares of ALGT. Signaturefd LLC grew its holdings in shares of Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after buying an additional 304 shares during the last quarter. Privium Fund Management UK Ltd increased its position in Allegiant Travel by 3.5% during the third quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock worth $581,000 after buying an additional 358 shares during the period. SeaCrest Wealth Management LLC increased its position in Allegiant Travel by 8.1% during the third quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock worth $331,000 after buying an additional 450 shares during the period. Finally, Inspire Investing LLC lifted its stake in Allegiant Travel by 8.1% in the third quarter. Inspire Investing LLC now owns 7,490 shares of the transportation company’s stock valued at $412,000 after buying an additional 562 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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.