Allegiant Travel (NASDAQ:ALGT) Receives $68.00 Average PT from Brokerages

Allegiant Travel (NASDAQ:ALGT - Get Free Report) has received a consensus rating of "Hold" from the ten ratings firms that are covering the company, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $68.00.

Several equities research analysts have recently weighed in on ALGT shares. Morgan Stanley boosted their target price on shares of Allegiant Travel from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 11th. Wolfe Research lowered Allegiant Travel from a "strong-buy" rating to a "hold" rating in a report on Monday, November 4th. TD Cowen upped their price objective 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 lifted their target price on Allegiant Travel from $55.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Finally, UBS Group assumed coverage on Allegiant Travel in a report on Tuesday, November 26th. They issued a "neutral" rating and a $16.00 price target for the company.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the business's 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 completion of the transaction, the chief operating officer now owns 16,353 shares in the company, valued at approximately $1,025,169.57. The trade was a 3.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sandra Douglass Morgan sold 350 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 11,650 shares in the company, valued at $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. Over the last 90 days, insiders have sold 29,600 shares of company stock worth $2,476,465. 15.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in shares of Allegiant Travel in the third quarter valued at approximately $63,540,000. Charles Schwab Investment Management Inc. lifted its position in Allegiant Travel by 41.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company's stock worth $14,176,000 after purchasing an additional 75,486 shares during the period. Clearbridge Investments LLC acquired a new stake in Allegiant Travel in the second quarter worth approximately $8,959,000. Hauser Brothers GmbH boosted its stake in Allegiant Travel by 73.0% during the 3rd quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company's stock valued at $1,305,000 after purchasing an additional 10,000 shares in the last quarter. Finally, State Street Corp increased its position in shares of Allegiant Travel by 1.7% during the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company's stock valued at $33,530,000 after purchasing an additional 10,050 shares during the period. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Stock Down 0.3 %

Shares of NASDAQ:ALGT traded down $0.30 during midday trading on Friday, reaching $91.11. The company had a trading volume of 226,431 shares, compared to its average volume of 366,945. The stock has a market capitalization of $1.67 billion, a P/E ratio of -60.74, a PEG ratio of 7.17 and a beta of 1.67. The stock's fifty day moving average price is $76.68 and its 200-day moving average price is $58.08. 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 one year low of $36.08 and a one year high of $94.45.

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.