Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $50.00 at Barclays

Allegiant Travel (NASDAQ:ALGT) had its target price increased by Barclays from $45.00 to $50.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the transportation company’s stock.

Other analysts have also recently issued research reports about the company. Susquehanna increased their target price on Allegiant Travel from $40.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a “buy” rating to a “hold” rating and decreased their price target for the company from $75.00 to $53.00 in a report on Monday, July 8th. Morgan Stanley dropped their price target 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. Evercore ISI raised their price target on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Finally, TD Cowen upped their price target on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.38.

Allegiant Travel Price Performance

NASDAQ ALGT opened at $65.96 on Monday. The company has a 50-day moving average price of $51.72 and a 200-day moving average price of $50.82. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $85.91. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $1.21 billion, a P/E ratio of -43.97, a PEG ratio of 4.25 and a beta of 1.61.

Insider Activity

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the company’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 transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction on 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 transaction, the director now owns 7,490 shares of the company’s stock, valued at $337,050. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction dated 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 owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,334 shares of company stock valued at $117,158. 15.80% of the stock is currently owned by company insiders.

Institutional Trading of Allegiant Travel

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

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.