Brokerages Set Allegiant Travel (NASDAQ:ALGT) Target Price at $79.60

Shares of Allegiant Travel (NASDAQ:ALGT) have received a consensus rating of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $79.60.

A number of analysts recently issued reports on the stock. Susquehanna increased their price target on shares of Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group upped their price target on Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Morgan Stanley raised their price objective on Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Finally, Wolfe Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th.

Insider Buying and Selling

In other news, 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 transaction of $2,391,822.74. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sandra Douglass Morgan sold 350 shares of the company’s 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 sale, 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. 15.80% of the stock is currently owned by company insiders.

Institutional Trading of Allegiant Travel

Institutional investors have recently made changes to their positions in the company. Signaturefd LLC raised its position in Allegiant Travel by 149.2% in the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 273 shares during the period. Crews Bank & Trust purchased a new stake in Allegiant Travel in the 4th quarter valued at about $25,000. Nisa Investment Advisors LLC boosted its stake in Allegiant Travel by 136.9% during the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after buying an additional 304 shares during the period. GAMMA Investing LLC increased its position in shares of Allegiant Travel by 53.5% during 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 last quarter. Finally, NBC Securities Inc. raised its stake in shares of Allegiant Travel by 2,827.9% in the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after acquiring an additional 1,216 shares during the period. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Trading Up 0.3 %

Shares of NASDAQ:ALGT opened at $103.36 on Thursday. 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 has a 12-month low of $36.08 and a 12-month high of $106.87. The business has a 50 day moving average of $91.07 and a two-hundred day moving average of $66.04. The company has a market capitalization of $1.90 billion, a PE ratio of -68.91, a PEG ratio of 1.35 and a beta of 1.62.

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.