Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $110.00

Allegiant Travel (NASDAQ:ALGT) had its price objective boosted by Raymond James from $75.00 to $110.00 in a research note issued to investors on Monday morning,Benzinga reports. Raymond James currently has an outperform rating on the transportation company’s stock.

Several other research analysts have also weighed in on ALGT. Evercore ISI increased their target price on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Wolfe Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Morgan Stanley boosted their target price on Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Susquehanna raised their price target on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, UBS Group started coverage on shares of Allegiant Travel in a research note on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Allegiant Travel presently has a consensus rating of “Hold” and a consensus target price of $69.11.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $94.12 on Monday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -62.75, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. Allegiant Travel has a one year low of $36.08 and a one year high of $94.53. The company has a 50 day moving average price of $78.50 and a 200 day moving average price of $58.93.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was 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 owns 11,650 shares in the company, valued at $940,970.50. This trade represents a 2.92 % 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, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $84.46, for a total value of $2,391,822.74. Following the sale, the chairman now owns 2,147,730 shares in the company, valued at $181,397,275.80. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,600 shares of company stock valued at $2,476,465. Corporate insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Allegiant Travel by 7.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 215,533 shares of the transportation company’s stock valued at $10,826,000 after acquiring an additional 15,469 shares during the last quarter. Versor Investments LP lifted its position in shares of Allegiant Travel by 34.5% during the second quarter. Versor Investments LP now owns 5,794 shares of the transportation company’s stock worth $291,000 after purchasing an additional 1,486 shares during the last quarter. Privium Fund Management UK Ltd grew its stake in Allegiant Travel by 4.5% in the second quarter. Privium Fund Management UK Ltd now owns 10,191 shares of the transportation company’s stock worth $504,000 after purchasing an additional 438 shares in the last quarter. First Pacific Advisors LP increased its holdings in Allegiant Travel by 10.4% in the second quarter. First Pacific Advisors LP now owns 34,186 shares of the transportation company’s stock valued at $1,717,000 after buying an additional 3,224 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Allegiant Travel by 25.6% during the second quarter. Victory Capital Management Inc. now owns 16,614 shares of the transportation company’s stock valued at $835,000 after buying an additional 3,391 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.