Allegiant Travel (NASDAQ:ALGT) Given New $110.00 Price Target at Raymond James

Allegiant Travel (NASDAQ:ALGT) had its target price raised by Raymond James from $75.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the transportation company’s stock. Raymond James’ price objective indicates a potential upside of 20.73% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. StockNews.com lowered shares of Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Friday. 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 report on Thursday, October 3rd. TD Cowen boosted their price objective on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. Morgan Stanley increased their target price on Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $83.00 price target on shares of Allegiant Travel in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $69.11.

Allegiant Travel Stock Performance

Allegiant Travel stock opened at $91.11 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $94.45. The company has a fifty day moving average price of $76.68 and a two-hundred day moving average price of $58.08. The company has a market cap of $1.67 billion, a PE ratio of -60.74, a P/E/G ratio of 7.17 and a beta of 1.67.

Insider Buying and Selling

In related news, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the transaction, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,600 shares of company stock valued at $2,476,465 over the last 90 days. 15.80% of the stock is currently owned by company insiders.

Institutional Trading of Allegiant Travel

A number of hedge funds and other institutional investors have recently modified their holdings of ALGT. Signaturefd LLC grew its holdings in Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after acquiring an additional 273 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after purchasing an additional 304 shares during the last quarter. Privium Fund Management UK Ltd raised its holdings in shares of Allegiant Travel by 3.5% in the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock worth $581,000 after purchasing an additional 358 shares in the last quarter. SeaCrest Wealth Management LLC lifted its stake in Allegiant Travel by 8.1% during the third quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock valued at $331,000 after purchasing an additional 450 shares during the last quarter. Finally, Inspire Investing LLC grew its position in Allegiant Travel by 8.1% in the third quarter. Inspire Investing LLC now owns 7,490 shares of the transportation company’s stock worth $412,000 after buying an additional 562 shares during the last quarter. Institutional investors 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.