The Goldman Sachs Group Reiterates Neutral Rating for Allegiant Travel (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGT)‘s stock had its “neutral” rating restated by equities research analysts at The Goldman Sachs Group in a research note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $83.00 price objective on the transportation company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 6.83% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Evercore ISI raised their price target on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Barclays lifted their target price on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday. TD Cowen upped their price target on shares of Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Susquehanna raised their price target on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. One 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 company. According to data from MarketBeat, Allegiant Travel presently has a consensus rating of “Hold” and a consensus price target of $70.11.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $77.69 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The company has a market cap of $1.43 billion, a PE ratio of -51.79, a PEG ratio of 5.92 and a beta of 1.61. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91. The business’s fifty day simple moving average is $57.95 and its 200-day simple moving average is $51.83.

Insider Activity

In other news, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 7,490 shares of the company’s stock, valued at $337,050. The trade was a 11.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of the firm’s 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 in the company, valued at approximately $1,025,169.57. This trade represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,334 shares of company stock valued at $117,158 in the last ninety days. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Allegiant Travel by 2.3% during the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after buying an additional 38,612 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in shares of Allegiant Travel by 20.2% during the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock worth $54,701,000 after acquiring an additional 167,148 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Allegiant Travel by 1.9% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock valued at $47,509,000 after acquiring an additional 17,792 shares during the period. U S Global Investors Inc. grew its position in shares of Allegiant Travel by 51.9% during the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after acquiring an additional 253,198 shares during the period. Finally, State Street Corp increased its stake in shares of Allegiant Travel by 1.7% in the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after purchasing an additional 10,050 shares in 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.