Allegiant Travel’s (ALGT) “Neutral” Rating Reaffirmed at The Goldman Sachs Group

Allegiant Travel (NASDAQ:ALGT)‘s stock had its “neutral” rating restated by equities research analysts at The Goldman Sachs Group in a report issued on Friday,Benzinga reports. They presently have a $83.00 target price on the transportation company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 9.10% from the stock’s previous close.

A number of other brokerages also recently weighed in on ALGT. TD Cowen boosted their price target on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 1st. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Evercore ISI raised their price target on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Barclays increased their target price on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Susquehanna boosted 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $70.11.

Allegiant Travel Price Performance

ALGT opened at $76.08 on Friday. The company has a market capitalization of $1.40 billion, a P/E ratio of -50.72, a PEG ratio of 5.92 and a beta of 1.61. The company has a 50-day moving average of $57.21 and a 200-day moving average of $51.71. 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 1-year low of $36.08 and a 1-year high of $85.91.

Insider Activity at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of Allegiant Travel 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 transaction, the chief operating officer now directly owns 16,353 shares in the company, valued at approximately $1,025,169.57. This trade represents a 3.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction 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 sale, the director now owns 7,490 shares of the company’s stock, valued at approximately $337,050. This trade represents a 11.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,334 shares of company stock worth $117,158 over the last ninety days. 15.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently made changes to their positions in the business. Signaturefd LLC grew 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 acquiring an additional 273 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 304 shares in the last quarter. Innealta Capital LLC acquired a new position in Allegiant Travel in the 2nd quarter worth approximately $34,000. CWM LLC grew its position in Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after purchasing an additional 930 shares in the last quarter. Finally, NBC Securities Inc. grew its stake in Allegiant Travel by 2,827.9% during 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 in the last quarter. Institutional investors 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.