Allegiant Travel (NASDAQ:ALGT) Receives Average Rating of “Hold” from Analysts

Shares of Allegiant Travel (NASDAQ:ALGT) have earned an average recommendation of “Hold” from the ten ratings firms that are covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $68.00.

Several research analysts recently weighed in on the company. Susquehanna upped their price target on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. StockNews.com downgraded Allegiant Travel from a “hold” rating to a “sell” rating in a report on Friday. Barclays raised their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. TD Cowen boosted their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. Finally, Morgan Stanley increased their target price on shares of Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th.

Insider Activity

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the sale, the director now owns 11,650 shares of the company’s stock, valued at $940,970.50. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,600 shares of company stock valued at $2,476,465. 15.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. boosted its position in Allegiant Travel by 20.2% in the third quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock valued at $54,701,000 after buying an additional 167,148 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Allegiant Travel by 1.9% in the second 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 last quarter. U S Global Investors Inc. boosted its holdings in shares of Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after acquiring an additional 253,198 shares in the last quarter. State Street Corp grew its position in Allegiant Travel by 1.7% during the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after acquiring an additional 10,050 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Allegiant Travel by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock valued at $34,584,000 after purchasing an additional 14,852 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Trading Down 0.3 %

Shares of NASDAQ ALGT opened at $91.11 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $94.45. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -60.74, a P/E/G ratio of 7.17 and a beta of 1.67. The business has a fifty day simple moving average of $76.68 and a 200-day simple moving average of $58.08.

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.