TD Cowen Increases Allegiant Travel (NASDAQ:ALGT) Price Target to $70.00

Allegiant Travel (NASDAQ:ALGT - Get Free Report) had its price objective hoisted by investment analysts at TD Cowen from $50.00 to $70.00 in a research report issued on Tuesday, Marketbeat reports. The firm currently has a "hold" rating on the transportation company's stock. TD Cowen's price objective would indicate a potential downside of 16.40% from the stock's current price.

Other research analysts also recently issued reports about the stock. Wolfe Research downgraded shares of Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 4th. Evercore ISI lifted their price target on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an "in-line" rating in a research note on Thursday, October 3rd. UBS Group began coverage on shares of Allegiant Travel in a research note on Tuesday, November 26th. They set a "neutral" rating and a $16.00 price target on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $83.00 price target on shares of Allegiant Travel in a research note on Friday, November 15th. Finally, Barclays lifted their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $68.00.

Allegiant Travel Price Performance

Allegiant Travel stock traded down $0.69 during mid-day trading on Tuesday, hitting $83.73. 268,399 shares of the company traded hands, compared to its average volume of 369,740. Allegiant Travel has a one year low of $36.08 and a one year high of $94.45. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -55.82, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. 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 stock has a fifty day moving average price of $72.30 and a 200-day moving average price of $56.20.

Insider Buying and Selling

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the company'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 completion of the transaction, the director now directly owns 11,650 shares in the company, valued at approximately $940,970.50. This represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $39,808.15. Following the completion of the transaction, the chief operating officer now owns 16,353 shares of the company's stock, valued at $1,025,169.57. This trade represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,600 shares of company stock valued at $2,476,465 over the last three months. 15.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its holdings in Allegiant Travel by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company's stock worth $34,584,000 after purchasing an additional 14,852 shares in the last quarter. Barclays PLC raised its holdings in Allegiant Travel by 136.9% in the 3rd quarter. Barclays PLC now owns 31,876 shares of the transportation company's stock worth $1,755,000 after purchasing an additional 18,421 shares in the last quarter. Geode Capital Management LLC raised its holdings in Allegiant Travel by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company's stock worth $20,089,000 after purchasing an additional 5,424 shares in the last quarter. XTX Topco Ltd grew its position in shares of Allegiant Travel by 15.0% in the 3rd quarter. XTX Topco Ltd now owns 17,491 shares of the transportation company's stock worth $963,000 after buying an additional 2,279 shares during the period. Finally, State Street Corp grew its position in shares of Allegiant Travel by 1.7% in the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company's stock worth $33,530,000 after buying an additional 10,050 shares during the period. 85.81% of the stock is currently owned by 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.