Allegiant Travel (NASDAQ:ALGT) had its price target hoisted by investment analysts at Cowen from $152.00 to $169.00 in a research report issued on Friday, Briefing.com Automated Import reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Cowen’s price target points to a potential upside of 9.47% from the company’s previous close.
A number of other brokerages have also recently weighed in on ALGT. Morgan Stanley lifted their price target on shares of Allegiant Travel from $152.00 to $164.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Citigroup lifted their price target on shares of Allegiant Travel from $180.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Buckingham Research lifted their price target on shares of Allegiant Travel from $186.00 to $191.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. ValuEngine cut shares of Allegiant Travel from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 10th. Finally, Sidoti lifted their price objective on shares of Allegiant Travel from $178.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $167.00.
Shares of ALGT opened at $154.38 on Friday. Allegiant Travel has a 1-year low of $98.18 and a 1-year high of $157.50. The stock has a market cap of $2.49 billion, a PE ratio of 15.44, a P/E/G ratio of 0.41 and a beta of 0.92. The firm has a 50-day simple moving average of $149.99 and a two-hundred day simple moving average of $144.37. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.29 and a quick ratio of 1.24.
In related news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $145.10, for a total value of $145,100.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $290,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 20.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Advisors Preferred LLC acquired a new position in shares of Allegiant Travel in the second quarter valued at approximately $26,000. MUFG Americas Holdings Corp purchased a new position in Allegiant Travel in the second quarter worth approximately $29,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Allegiant Travel by 68.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 331 shares of the transportation company’s stock worth $50,000 after acquiring an additional 135 shares during the last quarter. Advisor Group Inc. lifted its stake in Allegiant Travel by 55.8% in the second quarter. Advisor Group Inc. now owns 360 shares of the transportation company’s stock worth $51,000 after acquiring an additional 129 shares during the last quarter. Finally, Clear Perspective Advisors LLC purchased a new position in Allegiant Travel in the second quarter worth approximately $57,000. Hedge funds and other institutional investors own 80.75% 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 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.
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