Susquehanna Issues Positive Forecast for Allegiant Travel (NASDAQ:ALGT) Stock Price

Allegiant Travel (NASDAQ:ALGT) had its target price upped by stock analysts at Susquehanna from $60.00 to $105.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price target indicates a potential upside of 5.74% from the stock’s current price.

Several other research firms have also issued reports on ALGT. Morgan Stanley lifted their target price on Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th. Barclays lifted their target price on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Raymond James lifted their target price on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. Finally, Evercore ISI lifted their target price 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. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $74.11.

Allegiant Travel Stock Performance

Shares of Allegiant Travel stock opened at $99.30 on Tuesday. The firm has a market cap of $1.82 billion, a P/E ratio of -66.20, a P/E/G ratio of 7.17 and a beta of 1.62. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $101.00. The stock’s fifty day moving average price is $81.88 and its 200-day moving average price is $60.44.

Insiders Place Their Bets

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the completion of the sale, the chairman now owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $39,808.15. Following the sale, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This trade represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,304 shares of company stock valued at $2,459,900. 15.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allegiant Travel

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in Allegiant Travel by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 215,533 shares of the transportation company’s stock valued at $10,826,000 after acquiring an additional 15,469 shares during the period. Victory Capital Management Inc. lifted its holdings in Allegiant Travel by 25.6% in the second quarter. Victory Capital Management Inc. now owns 16,614 shares of the transportation company’s stock valued at $835,000 after acquiring an additional 3,391 shares during the period. Headlands Technologies LLC lifted its holdings in Allegiant Travel by 170.6% in the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after acquiring an additional 1,590 shares during the period. American Century Companies Inc. lifted its holdings in Allegiant Travel by 15.1% in the second quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock valued at $21,538,000 after acquiring an additional 56,208 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Allegiant Travel in the second quarter valued at approximately $311,000. Institutional investors and hedge funds 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.