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

Allegiant Travel (NASDAQ:ALGT) had its price objective boosted by Barclays from $45.00 to $50.00 in a research note published on Monday morning, Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

Several other research analysts have also recently issued reports on ALGT. Morgan Stanley decreased their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. TD Cowen increased their price target on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and decreased their price target for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Susquehanna increased their price target on Allegiant Travel from $40.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI increased their price target on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $65.38.

Allegiant Travel Trading Up 11.5 %

Shares of ALGT stock opened at $73.87 on Monday. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $85.91. The firm has a market capitalization of $1.35 billion, a PE ratio of -49.01, a price-to-earnings-growth ratio of 4.61 and a beta of 1.61. The stock has a fifty day moving average of $52.65 and a two-hundred day moving average of $50.88. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74.

Insider Activity

In other news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction on 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 directly owns 7,490 shares of the company’s stock, valued at $337,050. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Keny Frank Wilper sold 635 shares of the 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 in the company, valued at $1,025,169.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $337,050. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,334 shares of company stock valued at $117,158 over the last three months. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in shares of Allegiant Travel by 369.1% in the 1st quarter. BNP Paribas Financial Markets now owns 23,874 shares of the transportation company’s stock valued at $1,796,000 after purchasing an additional 18,785 shares during the period. Janney Montgomery Scott LLC lifted its position in Allegiant Travel by 18.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,799 shares of the transportation company’s stock worth $587,000 after buying an additional 1,235 shares in the last quarter. Empowered Funds LLC lifted its position in Allegiant Travel by 7.8% in the 1st quarter. Empowered Funds LLC now owns 71,275 shares of the transportation company’s stock worth $5,361,000 after buying an additional 5,175 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Allegiant Travel during the 1st quarter valued at $141,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Allegiant Travel during the 1st quarter valued at $1,306,000. 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.