Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $90.00

Allegiant Travel (NASDAQ:ALGT) had its price target increased by Morgan Stanley from $80.00 to $90.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the transportation company’s stock.

Several other equities analysts also recently commented on ALGT. Barclays boosted their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. UBS Group began coverage on Allegiant Travel in a report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price target on the stock. Evercore ISI lifted their price objective on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Susquehanna upped their target price on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. 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. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.78.

Allegiant Travel Trading Down 2.8 %

Shares of ALGT stock opened at $84.90 on Wednesday. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $94.45. The company has a 50 day moving average price of $71.21 and a 200 day moving average price of $55.66. The stock has a market capitalization of $1.56 billion, a P/E ratio of -56.60, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

Insider Activity at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction dated 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 29,600 shares of company stock valued at $2,476,465 over the last ninety days. Insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

A number of institutional investors have recently modified their holdings of ALGT. Donald Smith & CO. Inc. grew its position in Allegiant Travel by 20.2% during the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock worth $54,701,000 after purchasing an additional 167,148 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Allegiant Travel by 1.9% during the second quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock worth $47,509,000 after buying an additional 17,792 shares during the last quarter. U S Global Investors Inc. increased its position in Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after acquiring an additional 253,198 shares during the period. State Street Corp increased its position in Allegiant Travel by 1.7% in the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after acquiring an additional 10,050 shares during the period. Finally, Franklin Resources Inc. raised its stake in Allegiant Travel by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock valued at $34,584,000 after acquiring an additional 14,852 shares during the last quarter. 85.81% of the stock is 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.