Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $60.00

Allegiant Travel (NASDAQ:ALGT) had its price objective upped by Susquehanna from $55.00 to $60.00 in a research report released on Monday morning, Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

Other equities research analysts also recently issued reports about the company. TD Cowen increased their price target on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Barclays raised their price objective on Allegiant Travel from $45.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday. Evercore ISI raised 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. Morgan Stanley reduced their price objective on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $75.00 to $53.00 in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and a consensus price target of $65.38.

Allegiant Travel Trading Up 11.5 %

Shares of NASDAQ ALGT opened at $73.87 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. The business’s 50 day moving average price is $52.65 and its 200-day moving average price is $50.88. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $85.91. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -49.01, a PEG ratio of 4.61 and a beta of 1.61.

Insiders Place Their Bets

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel 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 sale, the director now owns 7,490 shares of the company’s stock, valued at approximately $337,050. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of Allegiant Travel 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 transaction, the chief operating officer now owns 16,353 shares in the company, valued at approximately $1,025,169.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now owns 7,490 shares of the company’s stock, valued at $337,050. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,334 shares of company stock valued at $117,158. 15.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegiant Travel

A number of institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC raised its stake in shares of Allegiant Travel by 6.9% during the 1st quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock valued at $237,000 after buying an additional 203 shares during the last quarter. Signaturefd LLC increased its stake in shares of Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 304 shares in the last quarter. Privium Fund Management UK Ltd increased its stake in shares of Allegiant Travel by 3.5% in the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock valued at $581,000 after purchasing an additional 358 shares in the last quarter. Finally, SeaCrest Wealth Management LLC increased its stake in shares of Allegiant Travel by 8.1% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock valued at $331,000 after purchasing an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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.