Allegiant Travel (NASDAQ:ALGT) Receives $80.10 Consensus Target Price from Analysts

Shares of Allegiant Travel (NASDAQ:ALGT) have received a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $80.10.

Several brokerages have weighed in on ALGT. Raymond James lifted their target price on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. 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 note on Tuesday, December 17th. Barclays boosted their price objective on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Finally, Bank of America boosted their price objective on Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a research note on Friday, January 17th.

Insider Transactions at Allegiant Travel

In other news, Director Sandra Douglass Morgan sold 350 shares of Allegiant Travel stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the transaction, the director now owns 11,650 shares in the company, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction on Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the transaction, the chairman now owns 2,147,730 shares in the company, valued at $181,397,275.80. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. 15.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC grew its holdings in shares of Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after buying an additional 273 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of Allegiant Travel during the fourth quarter valued at $25,000. Nisa Investment Advisors LLC grew its holdings in shares of Allegiant Travel by 136.9% during the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after buying an additional 304 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 223 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in Allegiant Travel by 803.6% in the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 442 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Stock Down 5.0 %

Shares of Allegiant Travel stock opened at $81.64 on Monday. The business’s fifty day moving average price is $93.51 and its two-hundred day moving average price is $70.53. 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 company has a market capitalization of $1.50 billion, a P/E ratio of -6.11 and a beta of 1.63. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. As a group, research analysts forecast that Allegiant Travel will post 7.55 EPS for the current year.

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.