TD Cowen Forecasts Strong Price Appreciation for Allegiant Travel (NASDAQ:ALGT) Stock

Allegiant Travel (NASDAQ:ALGT) had its price target hoisted by investment analysts at TD Cowen from $50.00 to $70.00 in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm presently has a “hold” rating on the transportation company’s stock. TD Cowen’s price objective would indicate a potential downside of 13.42% from the stock’s previous close.

Several other equities analysts have also recently issued reports on ALGT. Morgan Stanley raised their price target on shares of Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. UBS Group assumed coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price for the company. Susquehanna boosted their target price on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a report on Friday, November 15th. Finally, Barclays increased their target price on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $68.00.

Allegiant Travel Stock Down 3.4 %

Allegiant Travel stock opened at $80.85 on Tuesday. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $94.45. The stock has a fifty day simple moving average of $72.82 and a two-hundred day simple moving average of $56.37. 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 has a market cap of $1.48 billion, a price-to-earnings ratio of -53.90, a PEG ratio of 7.17 and a beta of 1.67.

Insider Activity

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. The trade was a 3.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction dated Wednesday, November 27th. The shares were 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 approximately $940,970.50. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,600 shares of company stock worth $2,476,465 in the last three months. 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 modified their holdings of ALGT. International Assets Investment Management LLC purchased a new stake in shares of Allegiant Travel in the third quarter valued at $63,540,000. Charles Schwab Investment Management Inc. boosted its position in shares of Allegiant Travel by 41.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock valued at $14,176,000 after buying an additional 75,486 shares during the period. Clearbridge Investments LLC bought a new position in shares of Allegiant Travel during the second quarter valued at approximately $8,959,000. Hauser Brothers GmbH lifted its stake in shares of Allegiant Travel by 73.0% during the 3rd quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company’s stock worth $1,305,000 after acquiring an additional 10,000 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Allegiant Travel during the 2nd quarter valued at $764,000. 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.