Brokerages Set Allegiant Travel (NASDAQ:ALGT) Price Target at $68.00

Allegiant Travel (NASDAQ:ALGT) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $69.11.

A number of brokerages have recently weighed in on ALGT. The Goldman Sachs Group reissued a “neutral” rating and set a $83.00 price target on shares of Allegiant Travel in a research report on Friday, November 15th. Barclays boosted their target price on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Morgan Stanley raised their price target on Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Susquehanna boosted their price objective on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, 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 note on Thursday, October 3rd.

Insiders Place Their Bets

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the sale, the director now directly owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the sale, the chief operating officer now owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,304 shares of company stock valued at $2,459,900 in the last three months. 15.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allegiant Travel

Institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC increased its position in Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after buying an additional 273 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after acquiring an additional 304 shares during the period. GAMMA Investing LLC increased its holdings in shares of Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares during the last quarter. NBC Securities Inc. raised its stake in 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. Finally, Headlands Technologies LLC lifted its holdings in Allegiant Travel by 170.6% during the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 1,590 shares during the last quarter. 85.81% of the stock is owned by institutional investors.

Allegiant Travel Stock Up 2.2 %

Allegiant Travel stock opened at $93.93 on Friday. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $96.93. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -62.62, a PEG ratio of 7.17 and a beta of 1.67. The company’s 50 day simple moving average is $79.70 and its 200 day simple moving average is $59.48.

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.