Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $75.00

Allegiant Travel (NASDAQ:ALGT) had its price objective lifted by Barclays from $50.00 to $75.00 in a research report report published on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the transportation company’s stock.

Other equities research analysts have also recently issued reports about the stock. TD Cowen upped their target price on shares of Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 1st. Wolfe Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Susquehanna lifted their target price on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Evercore ISI boosted their target price on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $70.11.

Allegiant Travel Stock Up 2.1 %

ALGT stock opened at $77.69 on Thursday. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -51.79, a price-to-earnings-growth ratio of 5.92 and a beta of 1.61. The company has a fifty day moving average price of $57.95 and a 200 day moving average price of $51.83. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $85.91.

Insider Activity

In other news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the transaction, the director now directly owns 7,490 shares of the company’s stock, valued at $337,050. This represents a 11.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,334 shares of company stock valued at $117,158 in the last three months. 15.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its stake in shares of Allegiant Travel by 18.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,799 shares of the transportation company’s stock worth $587,000 after acquiring an additional 1,235 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Allegiant Travel during the first quarter worth $141,000. ProShare Advisors LLC boosted its position in Allegiant Travel by 6.9% during the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock worth $237,000 after purchasing an additional 203 shares in the last quarter. Vanguard Group Inc. grew its holdings in Allegiant Travel by 2.3% in the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock valued at $131,591,000 after purchasing an additional 38,612 shares during the last quarter. Finally, Donald Smith & CO. Inc. increased its position in shares of Allegiant Travel by 106.7% in the first quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock valued at $23,299,000 after buying an additional 159,892 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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.