Allegiant Travel (NASDAQ:ALGT) Receives "Neutral" Rating from The Goldman Sachs Group

Allegiant Travel (NASDAQ:ALGT - Get Free Report)'s stock had its "neutral" rating restated by The Goldman Sachs Group in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. They currently have a $83.00 price objective on the transportation company's stock. The Goldman Sachs Group's target price would suggest a potential upside of 6.83% from the stock's current price.

Several other equities research analysts have also recently weighed in on the company. Evercore ISI increased their price target on Allegiant Travel from $60.00 to $65.00 and gave the company an "in-line" rating in a research note on Thursday, October 3rd. Susquehanna increased their price target on Allegiant Travel from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Wolfe Research cut Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 4th. Barclays upped their target price on Allegiant Travel from $50.00 to $75.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, TD Cowen upped their target price on Allegiant Travel from $42.00 to $50.00 and gave the company a "hold" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel has an average rating of "Hold" and a consensus target price of $70.11.

Allegiant Travel Trading Up 2.1 %

Shares of ALGT stock traded up $1.61 on Friday, hitting $77.69. The company had a trading volume of 487,577 shares, compared to its average volume of 372,035. The firm has a market cap of $1.43 billion, a P/E ratio of -51.95, a P/E/G ratio of 5.92 and a beta of 1.61. The stock's 50-day moving average is $57.21 and its two-hundred day moving average is $51.71. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $85.91.

Insiders Place Their Bets

In other news, Director Gary Ellmer sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now owns 7,490 shares in the company, valued at $337,050. This trade represents a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the firm's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the transaction, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. This represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,334 shares of company stock worth $117,158. Corporate insiders own 15.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings 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. Interval Partners LP purchased a new stake in shares of Allegiant Travel during the first quarter valued at approximately $5,641,000. Clearbridge Investments LLC purchased a new stake in shares of Allegiant Travel during the second quarter valued at approximately $8,959,000. XTX Topco Ltd purchased a new stake in shares of Allegiant Travel during the second quarter valued at approximately $764,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Allegiant Travel during the second quarter valued at approximately $285,000. 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.