Barclays Issues Positive Forecast for Allegiant Travel (NASDAQ:ALGT) Stock Price

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

A number of other brokerages have also recently issued reports on ALGT. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Evercore ISI increased their price target on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. TD Cowen lifted their target price on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research report on Friday. Morgan Stanley cut their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Finally, Susquehanna boosted their target price on Allegiant Travel from $40.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.38.

Allegiant Travel Trading Up 4.7 %

Shares of ALGT opened at $65.96 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -43.97, a PEG ratio of 4.25 and a beta of 1.61. The firm’s 50-day moving average price is $51.72 and its 200-day moving average price is $50.82. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $85.91.

Insider Activity

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the transaction, the chief operating officer now owns 16,353 shares in the company, valued at approximately $1,025,169.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Keny Frank Wilper sold 635 shares of the business’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 sale, the chief operating officer now directly owns 16,353 shares in the company, valued at $1,025,169.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares in the company, valued at $337,050. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,334 shares of company stock valued at $117,158. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

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