Allegiant Travel (NASDAQ:ALGT) Earns Neutral Rating from Analysts at UBS Group

Investment analysts at UBS Group assumed coverage on shares of Allegiant Travel (NASDAQ:ALGT) in a research report issued on Tuesday. The brokerage set a “neutral” rating and a $16.00 price target on the transportation company’s stock. UBS Group’s target price would suggest a potential downside of 80.95% from the company’s current price.

ALGT has been the subject of several other reports. Evercore ISI upped their price objective on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Barclays upped their price objective on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. TD Cowen raised their target price on shares of Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $83.00 price target on shares of Allegiant Travel in a report on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.44.

Allegiant Travel Stock Up 6.2 %

NASDAQ ALGT opened at $84.01 on Tuesday. The business has a fifty day moving average price of $62.12 and a two-hundred day moving average price of $52.73. The stock has a market capitalization of $1.54 billion, a PE ratio of -56.01, a PEG ratio of 6.54 and a beta of 1.61. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $86.94. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the sale, the chief operating officer now directly owns 16,353 shares in the company, valued at approximately $1,025,169.57. This trade represents a 3.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in shares of Allegiant Travel during the third quarter worth approximately $63,540,000. Clearbridge Investments LLC acquired a new position in shares of Allegiant Travel during the second quarter valued at about $8,959,000. XTX Topco Ltd acquired a new position in shares of Allegiant Travel during the second quarter valued at about $764,000. Assenagon Asset Management S.A. bought a new stake in shares of Allegiant Travel during the second quarter worth about $285,000. Finally, Vanguard Group Inc. raised its holdings in shares of Allegiant Travel by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after acquiring an additional 38,612 shares during the last quarter. Institutional investors own 85.81% of the company’s stock.

Allegiant Travel Company Profile

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.