Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $75.00

Allegiant Travel (NASDAQ:ALGT) had its target price increased by Barclays from $50.00 to $75.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the transportation company’s stock.

ALGT has been the topic of a number of other research reports. Wolfe Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Susquehanna raised their price objective on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. 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 report on Thursday, October 3rd. Finally, TD Cowen increased their target price on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $70.11.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $77.69 on Thursday. The firm’s 50 day simple moving average is $57.95 and its 200 day simple moving average is $51.82. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -51.79, a P/E/G ratio of 6.17 and a beta of 1.61. 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 1 year low of $36.08 and a 1 year high of $85.91.

Insider Transactions at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were 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 of the company’s stock, valued at approximately $1,025,169.57. This trade represents a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary Ellmer sold 1,000 shares of the business’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 in the company, valued at approximately $337,050. This represents a 11.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,931 shares of company stock worth $101,372. Insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in Allegiant Travel by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock worth $20,089,000 after purchasing an additional 5,424 shares during the last quarter. Barclays PLC raised its stake in Allegiant Travel by 136.9% during the third quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock worth $1,755,000 after buying an additional 18,421 shares during the last quarter. XTX Topco Ltd lifted its holdings in Allegiant Travel by 15.0% in the third quarter. XTX Topco Ltd now owns 17,491 shares of the transportation company’s stock valued at $963,000 after buying an additional 2,279 shares during the period. State Street Corp boosted its position in Allegiant Travel by 1.7% during the third 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 last quarter. Finally, Stifel Financial Corp acquired a new stake in Allegiant Travel during the 3rd quarter worth about $210,000. 85.81% of the stock is currently owned by 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.