Barclays Raises Allegiant Travel (NASDAQ:ALGT) Price Target to $100.00

Allegiant Travel (NASDAQ:ALGT - Free Report) had its price objective raised by Barclays from $85.00 to $100.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the transportation company's stock.

Several other research analysts have also commented on the company. UBS Group assumed coverage on Allegiant Travel in a report on Tuesday, November 26th. They set a "neutral" rating and a $16.00 price target on the stock. TD Cowen lifted their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a "hold" rating in a research note on Tuesday, December 17th. The Goldman Sachs Group increased their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday. Wolfe Research downgraded shares of Allegiant Travel from a "strong-buy" rating to a "hold" rating in a report on Monday, November 4th. Finally, Evercore ISI upped their price objective on Allegiant Travel from $60.00 to $65.00 and gave the company an "in-line" rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $79.60.

Allegiant Travel Trading Up 0.6 %

Allegiant Travel stock traded up $0.65 during trading on Thursday, reaching $102.99. 208,810 shares of the company were exchanged, compared to its average volume of 290,819. The stock's 50 day simple moving average is $85.83 and its two-hundred day simple moving average is $62.45. The company has a market capitalization of $1.89 billion, a P/E ratio of -68.66, a PEG ratio of 1.33 and a beta of 1.62. 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 52-week low of $36.08 and a 52-week high of $105.15.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the firm'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 transaction, the director now owns 11,650 shares of the company's stock, valued at $940,970.50. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Keny Frank Wilper sold 635 shares of the company's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now directly 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. Insiders have sold a total of 29,304 shares of company stock valued at $2,459,900 over the last quarter. 15.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in Allegiant Travel during the 3rd quarter worth about $63,540,000. Charles Schwab Investment Management Inc. grew its position in shares of Allegiant Travel by 41.5% during the third 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 in the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Allegiant Travel during the second quarter worth approximately $8,959,000. Hauser Brothers GmbH raised its holdings in Allegiant Travel by 73.0% in the third quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company's stock valued at $1,305,000 after acquiring an additional 10,000 shares in the last quarter. Finally, State Street Corp raised its holdings 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 in the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

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.