Allegiant Travel (NASDAQ:ALGT) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Allegiant Travel (NASDAQ:ALGT) had its price objective raised by equities research analysts at Morgan Stanley from $90.00 to $95.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s price objective points to a potential upside of 4.98% from the stock’s current price.

ALGT has been the subject of several other research reports. Barclays raised their target price on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Bank of America raised their price objective on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research report on Friday, January 17th. UBS Group began coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 target price on the stock. Raymond James raised their price target on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, December 30th. Finally, The Goldman Sachs Group upped their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and an average target price of $80.10.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $90.49 on Thursday. The firm’s 50 day moving average is $93.15 and its 200 day moving average is $68.13. The stock has a market capitalization of $1.66 billion, a P/E ratio of -60.33, a PEG ratio of 1.36 and a beta of 1.63. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $107.57. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a negative net margin of 1.04% and a positive return on equity of 0.63%. On average, sell-side analysts anticipate that Allegiant Travel will post 2.43 earnings per share for the current year.

Insider Activity

In other news, Director Sandra Douglass Morgan sold 350 shares of the firm’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 directly owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

A number of large investors have recently bought and sold shares of 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 worth $25,000 after purchasing an additional 273 shares during the last quarter. Crews Bank & Trust purchased a new stake in Allegiant Travel during the 4th quarter valued at $25,000. Nisa Investment Advisors LLC grew its holdings in 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 acquiring an additional 304 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 223 shares during the period. Finally, GAMMA Investing LLC increased its position 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 acquiring an additional 236 shares during the period. 85.81% of the stock is owned by hedge funds and other institutional investors.

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.