Allegiant Travel (NASDAQ:ALGT) Reaches New 52-Week High - Time to Buy?

Allegiant Travel (NASDAQ:ALGT - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as $107.13 and last traded at $105.71, with a volume of 10016 shares traded. The stock had previously closed at $104.06.

Analyst Ratings Changes

A number of research firms recently weighed in on ALGT. The Goldman Sachs Group upped their target price on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Morgan Stanley increased 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. TD Cowen boosted their price target on Allegiant Travel from $50.00 to $70.00 and gave the company a "hold" rating in a research note on Tuesday, December 17th. Susquehanna increased their price objective on Allegiant Travel from $60.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Finally, Bank of America boosted their target price on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an "underperform" rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Allegiant Travel currently has an average rating of "Hold" and an average price target of $79.60.

Allegiant Travel Stock Up 1.3 %

The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -66.07, a PEG ratio of 1.36 and a beta of 1.63. 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's 50-day simple moving average is $92.39 and its two-hundred day simple moving average is $67.20.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly 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 negative net margin of 1.04% and a positive return on equity of 0.63%. On average, sell-side analysts expect that Allegiant Travel will post 2.43 EPS for the current fiscal year.

Insider Transactions at Allegiant Travel

In other news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction 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 transaction, the chairman now owns 2,147,730 shares of the company's stock, valued at $181,397,275.80. This represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of Allegiant Travel stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total value 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 trade represents 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in Allegiant Travel by 1,614.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company's stock worth $849,000 after purchasing an additional 8,491 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Allegiant Travel in the 3rd quarter valued at $63,540,000. Charles Schwab Investment Management Inc. raised its stake in Allegiant Travel by 41.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company's stock worth $14,176,000 after buying an additional 75,486 shares during the period. Hauser Brothers GmbH lifted its holdings in Allegiant Travel by 73.0% during the third quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company's stock worth $1,305,000 after acquiring an additional 10,000 shares in the last quarter. Finally, State Street Corp grew its stake in Allegiant Travel by 1.7% in the third quarter. State Street Corp now owns 608,977 shares of the transportation company's stock valued at $33,530,000 after acquiring an additional 10,050 shares during the period. Institutional investors 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.