Morgan Stanley Forecasts Strong Price Appreciation for Allegiant Travel (NASDAQ:ALGT) Stock

Allegiant Travel (NASDAQ:ALGT - Get Free Report) had its price target upped by stock analysts at Morgan Stanley from $90.00 to $95.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the transportation company's stock. Morgan Stanley's price objective points to a potential upside of 7.53% from the company's previous close.

ALGT has been the subject of several other research reports. Susquehanna boosted their price target on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. StockNews.com upgraded Allegiant Travel from a "sell" rating to a "hold" rating in a report on Wednesday, January 15th. TD Cowen lifted their price target on Allegiant Travel from $50.00 to $70.00 and gave the company a "hold" rating in a report on Tuesday, December 17th. Wolfe Research cut Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 4th. Finally, Barclays lifted their target price on Allegiant Travel from $85.00 to $100.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $80.10.

Allegiant Travel Trading Down 2.4 %

Shares of NASDAQ:ALGT traded down $2.14 during trading on Thursday, reaching $88.35. 291,092 shares of the company were exchanged, compared to its average volume of 347,184. The business's fifty day simple moving average is $93.15 and its 200-day simple moving average is $68.40. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $107.57. The firm has a market capitalization of $1.62 billion, a PE ratio of -6.61, a P/E/G ratio of 1.03 and a beta of 1.63.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. On average, research analysts anticipate that Allegiant Travel will post 7.15 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 2,147,730 shares in the company, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the sale, the director now owns 11,650 shares in the company, valued at approximately $940,970.50. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. 15.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allegiant Travel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC grew its holdings 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 acquiring an additional 273 shares during the period. Crews Bank & Trust purchased a new stake in Allegiant Travel in the 4th quarter worth approximately $25,000. Nisa Investment Advisors LLC grew 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 purchasing an additional 304 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock valued at $43,000 after purchasing an additional 223 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Allegiant Travel by 53.5% in the fourth 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 period. 85.81% of the stock is owned by institutional investors and hedge funds.

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.