Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $100.00 at Barclays

Allegiant Travel (NASDAQ:ALGT) had its price objective boosted by Barclays from $85.00 to $100.00 in a report issued on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the transportation company’s stock.

Other research analysts have also issued research reports about the stock. Morgan Stanley raised their price objective on shares of Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. TD Cowen upped their price objective on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, December 17th. Raymond James lifted their target price on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, December 30th. Susquehanna upped their price target on Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, Wolfe Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $77.89.

Allegiant Travel Price Performance

ALGT opened at $102.34 on Thursday. The stock’s 50-day moving average price is $85.21 and its 200 day moving average price is $62.17. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $105.15. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -68.23, a PEG ratio of 1.33 and a beta of 1.62. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the firm’s 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 transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This trade represents a 3.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of the business’s 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 directly owns 11,650 shares of the company’s stock, valued at $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,304 shares of company stock worth $2,459,900 over the last three months. Insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

Several institutional investors and hedge funds have recently bought and sold shares of ALGT. Signaturefd LLC increased its stake in Allegiant Travel by 149.2% in the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 273 shares during the period. 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 worth $29,000 after buying an additional 304 shares during the last quarter. GAMMA Investing LLC increased its position in Allegiant Travel by 53.5% in the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 236 shares during the period. NBC Securities Inc. raised its stake in Allegiant Travel by 2,827.9% during the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after acquiring an additional 1,216 shares during the last quarter. Finally, Stifel Financial Corp acquired a new stake in Allegiant Travel during the 3rd quarter worth approximately $210,000. Hedge funds and other 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.