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

Allegiant Travel (NASDAQ:ALGT) had its price objective boosted by stock analysts at Barclays from $50.00 to $75.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price target points to a potential downside of 1.03% from the stock’s current price.

ALGT has been the topic of a number of other reports. Wolfe Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. TD Cowen boosted their price target on shares of Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Susquehanna upped their price target 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. Finally, Evercore ISI lifted their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $68.50.

Allegiant Travel Stock Performance

NASDAQ:ALGT traded up $1.24 during trading hours on Thursday, reaching $75.78. The stock had a trading volume of 115,168 shares, compared to its average volume of 370,614. The stock has a market cap of $1.39 billion, a P/E ratio of -50.08, a price-to-earnings-growth ratio of 5.92 and a beta of 1.61. The stock has a 50 day simple moving average of $56.50 and a 200 day simple moving average of $51.54. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91.

Insider Activity

In related news, COO Keny Frank Wilper sold 635 shares of the stock in a transaction on Wednesday, October 23rd. The stock was 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 approximately $1,025,169.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares of the company’s stock, valued at $337,050. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the stock in a transaction on Wednesday, October 23rd. The stock was 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 directly owns 16,353 shares in the company, valued at $1,025,169.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,334 shares of company stock worth $117,158 in the last three months. Corporate insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of Allegiant Travel by 149.2% in the 3rd 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 lifted its position 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 buying an additional 304 shares during the last quarter. Innealta Capital LLC purchased a new stake in Allegiant Travel in the second quarter worth approximately $34,000. CWM LLC grew its position in Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 930 shares during the last quarter. Finally, NBC Securities Inc. raised its stake in shares of Allegiant Travel by 2,827.9% during the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after acquiring an additional 1,216 shares in the last quarter. 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.