Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $105.00

Allegiant Travel (NASDAQ:ALGT) had its price target hoisted by Susquehanna from $60.00 to $105.00 in a research report report published on Tuesday morning,Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

Several other analysts have also issued reports on ALGT. Raymond James increased their price target on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th. 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 research note on Thursday, October 3rd. Morgan Stanley lifted their target price on Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. UBS Group began coverage on shares of Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price objective on the stock. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 target price on shares of Allegiant Travel in a research note on Friday, November 15th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $74.11.

Allegiant Travel Trading Up 0.2 %

Shares of NASDAQ:ALGT opened at $99.30 on Tuesday. The company has a market capitalization of $1.82 billion, a P/E ratio of -66.20, a P/E/G ratio of 7.17 and a beta of 1.62. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $101.00. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The business’s 50 day simple moving average is $82.56 and its 200 day simple moving average is $60.71.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction dated 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 sale, the director now owns 11,650 shares in the company, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $84.46, for a total value of $2,391,822.74. Following the completion of the transaction, the chairman now directly owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,304 shares of company stock worth $2,459,900. Insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

Several hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Allegiant Travel during the third quarter worth about $63,540,000. Charles Schwab Investment Management Inc. raised its holdings in Allegiant Travel by 41.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock valued at $14,176,000 after acquiring an additional 75,486 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of Allegiant Travel during the second quarter worth $8,959,000. Hauser Brothers GmbH boosted its holdings in shares of Allegiant Travel by 73.0% in the third quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company’s stock worth $1,305,000 after acquiring an additional 10,000 shares during the period. Finally, State Street Corp grew its position in shares of 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 purchasing an additional 10,050 shares in the last quarter. 85.81% of the stock is currently owned by 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.