Allegiant Travel (NASDAQ:ALGT) Receives Consensus Recommendation of "Hold" from Analysts

Shares of Allegiant Travel (NASDAQ:ALGT - Get Free Report) have been assigned an average rating of "Hold" from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $79.60.

A number of research analysts have weighed in on the company. StockNews.com upgraded Allegiant Travel from a "sell" rating to a "hold" rating in a report on Wednesday, January 15th. The Goldman Sachs Group upped their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Raymond James lifted their target price on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, December 30th. Barclays upped their price target on Allegiant Travel from $85.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Finally, Bank of America lifted their price objective on Allegiant Travel from $54.00 to $95.00 and gave the company an "underperform" rating in a research note on Friday, January 17th.

Allegiant Travel Price Performance

NASDAQ:ALGT traded down $2.32 during trading hours on Thursday, hitting $102.00. 322,432 shares of the company's stock traded hands, compared to its average volume of 289,952. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $106.87. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.87 billion, a P/E ratio of -68.00, a P/E/G ratio of 1.36 and a beta of 1.62. The business's fifty day simple moving average is $88.71 and its two-hundred day simple moving average is $64.35.

Insider Activity at Allegiant Travel

In other news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction on Monday, November 25th. The stock was sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the transaction, the chairman now owns 2,147,730 shares in the company, valued at $181,397,275.80. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of the business's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the transaction, the director now owns 11,650 shares in the company, valued at $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ALGT. Renaissance Technologies LLC purchased a new stake in Allegiant Travel during the second quarter worth about $1,728,000. Sei Investments Co. lifted its holdings in Allegiant Travel by 22.0% during the 2nd quarter. Sei Investments Co. now owns 12,108 shares of the transportation company's stock worth $608,000 after buying an additional 2,180 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Allegiant Travel by 8.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 31,834 shares of the transportation company's stock valued at $1,599,000 after buying an additional 2,467 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Allegiant Travel in the second quarter worth $3,122,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Allegiant Travel during the second quarter worth $450,000. Institutional investors and hedge funds 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.