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

Allegiant Travel (NASDAQ:ALGT) had its target price hoisted by investment analysts at TD Cowen from $50.00 to $70.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage currently has a “hold” rating on the transportation company’s stock. TD Cowen’s price target points to a potential downside of 13.42% from the stock’s current price.

ALGT has been the subject of a number of other research reports. The Goldman Sachs Group reissued a “neutral” rating and set a $83.00 target price on shares of Allegiant Travel in a research report on Friday, November 15th. UBS Group began coverage on Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 target price on the stock. Wolfe Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Susquehanna upped their price objective on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Morgan Stanley boosted their target price on shares of Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.00.

Allegiant Travel Price Performance

Shares of ALGT stock opened at $80.85 on Tuesday. The company has a market cap of $1.48 billion, a P/E ratio of -53.90, a PEG ratio of 7.17 and a beta of 1.67. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The stock’s 50-day moving average is $72.82 and its 200 day moving average is $56.37. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $94.45.

Insider Activity at Allegiant Travel

In other news, Director Sandra Douglass Morgan sold 350 shares of Allegiant Travel 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. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Keny Frank Wilper sold 635 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $1,025,169.57. The trade was a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,600 shares of company stock valued at $2,476,465. 15.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its position in 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 buying an additional 273 shares during the period. Nisa Investment Advisors LLC raised its stake in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after buying an additional 304 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Allegiant Travel in the 2nd quarter valued at about $34,000. NBC Securities Inc. raised its position in shares of Allegiant Travel by 2,827.9% during the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after acquiring an additional 1,216 shares in the last quarter. Finally, CWM LLC lifted its stake in Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after purchasing an additional 930 shares during the last quarter. Institutional investors and hedge funds 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.