Allegiant Travel (NASDAQ:ALGT) Given New $120.00 Price Target at UBS Group

Allegiant Travel (NASDAQ:ALGT) had its price target hoisted by research analysts at UBS Group from $107.00 to $120.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. UBS Group‘s price target would indicate a potential upside of 25.75% from the company’s previous close.

ALGT has been the subject of several other research reports. Wall Street Zen downgraded Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, November 4th. Barclays lowered their price objective on shares of Allegiant Travel from $145.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, September 11th. Raymond James Financial restated a “strong-buy” rating and set a $120.00 target price on shares of Allegiant Travel in a report on Thursday, November 5th. Finally, Zacks Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $125.15.

Allegiant Travel Price Performance

NASDAQ ALGT traded down $0.82 during mid-day trading on Thursday, hitting $95.42. The stock had a trading volume of 18,670 shares, compared to its average volume of 550,793. Allegiant Travel has a 52-week low of $61.36 and a 52-week high of $123.63. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 0.28 and a beta of 1.65. The company has a 50 day simple moving average of $76.83 and a 200 day simple moving average of $87.61. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 1.45.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Wednesday, November 4th. The transportation company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.41. The firm had revenue of $961.56 million during the quarter, compared to analysts’ expectations of $946.44 million. Allegiant Travel had a return on equity of 11.95% and a net margin of 1.65%. Allegiant Travel’s revenue was up 71.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.09) earnings per share. Equities analysts forecast that Allegiant Travel will post 6.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Allegiant Travel news, Director Charles W. Pollard sold 10,000 shares of Allegiant Travel stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $93.04, for a total value of $930,400.00. Following the completion of the sale, the director directly owned 16,000 shares of the company’s stock, valued at approximately $1,488,640. The trade was a 38.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new stake in shares of Allegiant Travel during the third quarter worth $1,648,000. Meeder Asset Management Inc. grew its position in shares of Allegiant Travel by 58.8% in the third quarter. Meeder Asset Management Inc. now owns 2,589 shares of the transportation company’s stock valued at $196,000 after purchasing an additional 959 shares during the period. Public Sector Pension Investment Board grew its position in shares of Allegiant Travel by 9.2% in the third quarter. Public Sector Pension Investment Board now owns 84,139 shares of the transportation company’s stock valued at $6,099,000 after purchasing an additional 7,121 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Allegiant Travel by 288.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 19,485 shares of the transportation company’s stock valued at $1,476,000 after purchasing an additional 14,465 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in Allegiant Travel by 21.9% in the third quarter. Hantz Financial Services Inc. now owns 1,087 shares of the transportation company’s stock valued at $82,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Company Profile

Allegiant Travel Company is a leisure-focused travel company best known for operating Allegiant Air, a low-cost airline. The airline offers scheduled, nonstop flights connecting smaller and midsize U.S. cities with popular vacation destinations, along with optional services such as seat selection and baggage allowances. Allegiant’s route network is concentrated in the United States, with service tailored to leisure travelers and demand that can vary by season. The company also offers travel-related products, including hotel and rental-car bookings, to complement its flights.