Allegiant Travel (NASDAQ:ALGT) Stock Rating Upgraded by StockNews.com

Allegiant Travel (NASDAQ:ALGT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Several other brokerages have also issued reports on ALGT. The Goldman Sachs Group reissued a “neutral” rating and set a $83.00 target price on shares of Allegiant Travel in a research note on Friday, November 15th. TD Cowen increased their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday. Morgan Stanley raised 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. Wolfe Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Barclays increased their price target on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Allegiant Travel presently has an average rating of “Hold” and a consensus price target of $68.00.

Allegiant Travel Price Performance

Allegiant Travel stock opened at $84.47 on Thursday. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -56.31, a PEG ratio of 7.17 and a beta of 1.67. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $94.45. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The stock’s 50 day moving average price is $73.31 and its two-hundred day moving average price is $56.55.

Insiders Place Their Bets

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the transaction, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This trade represents a 1.30 % 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 Sandra Douglass Morgan sold 350 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the transaction, the director now owns 11,650 shares in the company, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,600 shares of company stock valued at $2,476,465. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALGT. Signaturefd LLC grew its holdings in shares of Allegiant Travel by 149.2% in the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 273 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Allegiant Travel by 136.9% in the third 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. Innealta Capital LLC bought a new position in Allegiant Travel in the 2nd quarter valued at $34,000. NBC Securities Inc. grew its stake in Allegiant Travel by 2,827.9% in the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after purchasing an additional 1,216 shares during the period. Finally, Headlands Technologies LLC increased its position in shares of Allegiant Travel by 170.6% during the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 1,590 shares during the last quarter. Hedge funds and other 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.