Allegiant Travel (NASDAQ:ALGT) Given New $95.00 Price Target at Morgan Stanley

Allegiant Travel (NASDAQ:ALGT) had its price objective hoisted by investment analysts at Morgan Stanley from $90.00 to $95.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s target price would suggest a potential upside of 13.19% from the stock’s previous close.

A number of other research firms have also recently commented on ALGT. Barclays boosted their price target on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Raymond James boosted their price target on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, December 30th. Finally, Susquehanna raised their price objective on Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $80.10.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $83.93 on Thursday. The stock has a market cap of $1.54 billion, a PE ratio of -55.95, a price-to-earnings-growth ratio of 1.36 and a beta of 1.63. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $107.57. The firm has a fifty day moving average price of $92.81 and a 200-day moving average price of $67.68. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 0.63% and a negative net margin of 1.04%. Equities analysts anticipate that Allegiant Travel will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Allegiant Travel

A number of hedge funds and other institutional investors have recently bought and sold shares of ALGT. SeaCrest Wealth Management LLC boosted its holdings in shares of Allegiant Travel by 3.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock valued at $584,000 after purchasing an additional 200 shares during the period. Jones Financial Companies Lllp raised its position in Allegiant Travel by 94.5% during the 4th 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. GAMMA Investing LLC lifted its stake in Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares during the period. Crews Bank & Trust purchased a new stake in shares of Allegiant Travel in the 4th quarter worth approximately $25,000. Finally, Signaturefd LLC boosted its position in Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 273 shares in the last quarter. 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.