Allegiant Travel (NASDAQ:ALGT - Free Report) had its price objective hoisted by The Goldman Sachs Group from $83.00 to $92.00 in a research note released on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the transportation company's stock.
A number of other research firms have also commented on ALGT. Raymond James lifted their price target on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, December 30th. Susquehanna lifted their target price on shares of Allegiant Travel from $60.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Barclays upped their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the company an "equal weight" rating in a report on Thursday, November 14th. StockNews.com upgraded Allegiant Travel from a "sell" rating to a "hold" rating in a research note on Saturday, January 4th. Finally, TD Cowen boosted their price objective on Allegiant Travel from $50.00 to $70.00 and gave the stock a "hold" rating in a research report on Tuesday, December 17th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $75.11.
Read Our Latest Stock Analysis on ALGT
Allegiant Travel Stock Up 3.8 %
Allegiant Travel stock traded up $3.72 during mid-day trading on Tuesday, hitting $100.97. 340,747 shares of the company's stock were exchanged, compared to its average volume of 310,768. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $101.71. The stock has a 50 day moving average of $83.95 and a two-hundred day moving average of $61.53. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The stock has a market cap of $1.85 billion, a P/E ratio of -67.31, a P/E/G ratio of 7.17 and a beta of 1.62.
Insider Transactions at Allegiant Travel
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 transaction of $39,808.15. Following the completion of the transaction, 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 3.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the sale, the director now directly owns 11,650 shares in the company, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,304 shares of company stock valued at $2,459,900. 15.80% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Allegiant Travel
Several large investors have recently modified their holdings of the stock. Signaturefd LLC raised its stake in Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company's stock worth $25,000 after acquiring an additional 273 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company's stock valued at $29,000 after purchasing an additional 304 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock valued at $64,000 after purchasing an additional 236 shares during the last quarter. NBC Securities Inc. boosted its position in Allegiant Travel by 2,827.9% in the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company's stock valued at $69,000 after buying an additional 1,216 shares in the last quarter. Finally, Stifel Financial Corp bought a new stake in Allegiant Travel during the third quarter worth about $210,000. 85.81% of the stock is currently owned by institutional investors.
About Allegiant Travel
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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.
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