Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $60.00

Allegiant Travel (NASDAQ:ALGT - Free Report) had its price objective hoisted by Susquehanna from $55.00 to $60.00 in a report published on Monday, Benzinga reports. They currently have a neutral rating on the transportation company's stock.

ALGT has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a "buy" rating to a "hold" rating and dropped their target price for the company from $75.00 to $53.00 in a research note on Monday, July 8th. TD Cowen upped their target price on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a "hold" rating in a report on Friday. Barclays increased their price target on shares of Allegiant Travel from $45.00 to $50.00 and gave the stock an "equal weight" rating in a report on Monday. Evercore ISI upped their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an "in-line" rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley cut their price objective on shares of Allegiant Travel from $95.00 to $87.00 and set an "equal weight" rating for the company in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $65.38.

Allegiant Travel Stock Up 4.7 %

Allegiant Travel stock traded up $2.95 during midday trading on Monday, hitting $65.96. 380,293 shares of the stock were exchanged, compared to its average volume of 367,908. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $85.91. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -43.97, a price-to-earnings-growth ratio of 4.25 and a beta of 1.61. The business's 50-day moving average price is $51.72 and its 200-day moving average price is $50.82. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares of the company's stock, valued at $337,050. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Keny Frank Wilper sold 635 shares of the firm's stock in a transaction dated 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 sale, the chief operating officer now directly owns 16,353 shares of the company's stock, valued at approximately $1,025,169.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary Ellmer sold 1,000 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now directly owns 7,490 shares of the company's stock, valued at approximately $337,050. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,334 shares of company stock valued at $117,158 in the last quarter. Company insiders own 15.80% of the company's stock.

Institutional Investors Weigh In On Allegiant Travel

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Allegiant Travel by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company's stock worth $131,591,000 after acquiring an additional 38,612 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in shares of Allegiant Travel by 20.2% in the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company's stock worth $54,701,000 after acquiring an additional 167,148 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Allegiant Travel by 1.9% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company's stock worth $47,509,000 after acquiring an additional 17,792 shares in the last quarter. U S Global Investors Inc. increased its stake in shares of Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company's stock worth $40,823,000 after acquiring an additional 253,198 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Allegiant Travel by 15.1% in the 2nd quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company's stock worth $21,538,000 after acquiring an additional 56,208 shares in the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

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.