Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $50.00

Allegiant Travel (NASDAQ:ALGT) had its price objective increased by TD Cowen from $42.00 to $50.00 in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has a hold rating on the transportation company’s stock.

Several other analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Allegiant Travel from a “buy” rating to a “hold” rating and lowered their price target for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Susquehanna boosted their target price on Allegiant Travel from $40.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Morgan Stanley reduced their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Barclays lowered their price objective on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Evercore ISI raised their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $64.13.

Allegiant Travel Trading Down 3.1 %

ALGT stock opened at $63.01 on Friday. The company has a market capitalization of $1.15 billion, a PE ratio of -42.01, a price-to-earnings-growth ratio of 4.25 and a beta of 1.61. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. Allegiant Travel has a one year low of $36.08 and a one year high of $85.91. The company’s 50 day moving average price is $51.72 and its two-hundred day moving average price is $50.90.

Insider Activity

In related news, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the sale, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the transaction, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $337,050. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,334 shares of company stock valued at $117,158. Company 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 added to or reduced their stakes in ALGT. Signaturefd LLC boosted its holdings in shares of Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after buying an additional 273 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Allegiant Travel by 136.9% during the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after acquiring an additional 304 shares in the last quarter. Innealta Capital LLC purchased a new stake in Allegiant Travel in the second quarter worth about $34,000. NBC Securities Inc. increased its stake in shares of Allegiant Travel by 2,827.9% during the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after purchasing an additional 1,216 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 930 shares during the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Company Profile

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.