Allegiant Travel (NASDAQ:ALGT) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Allegiant Travel (NASDAQ:ALGT) had its target price boosted by equities researchers at The Goldman Sachs Group from $83.00 to $92.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. The Goldman Sachs Group’s price objective suggests a potential downside of 9.91% from the company’s previous close.

Several other equities analysts have also issued reports on ALGT. Susquehanna boosted their price objective on Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. 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. Raymond James increased their price target on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Morgan Stanley raised their price objective 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. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Allegiant Travel presently has a consensus rating of “Hold” and a consensus target price of $75.11.

Allegiant Travel Price Performance

Shares of ALGT stock opened at $102.12 on Tuesday. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -68.08, a PEG ratio of 7.17 and a beta of 1.62. 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 firm’s 50 day moving average is $84.64 and its 200-day moving average is $61.89. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $105.15.

Insiders Place Their Bets

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’s 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 completion of the sale, the chairman now 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the transaction, the director now directly 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. In the last quarter, insiders sold 29,304 shares of company stock valued at $2,459,900. Company insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

A number of institutional investors and hedge funds have recently made changes to their positions in ALGT. SeaCrest Wealth Management LLC boosted its position in Allegiant Travel by 3.3% in the 4th quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock valued at $584,000 after buying an additional 200 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 236 shares during the period. Signaturefd LLC grew its stake in Allegiant Travel by 149.2% in the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Allegiant Travel by 136.9% during 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 period. Finally, Privium Fund Management UK Ltd raised its position in Allegiant Travel by 3.5% during the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock valued at $581,000 after purchasing an additional 358 shares in the last quarter. 85.81% of the stock is owned by hedge funds and other 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.