Allegiant Travel (NASDAQ:ALGT) Receives $65.38 Average Price Target from Brokerages

Shares of Allegiant Travel (NASDAQ:ALGT) have earned an average rating of “Hold” from the ten research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $70.11.

A number of analysts recently weighed in on ALGT shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 target price on shares of Allegiant Travel in a report on Friday. TD Cowen upped their target price on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Barclays upped their target price on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday. Evercore ISI upped their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Finally, Susquehanna upped their target price on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, November 4th.

Insiders Place Their Bets

In other news, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the sale, the chief operating officer now owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $45,000.00. Following the completion of the sale, the director now directly owns 7,490 shares of the company’s stock, valued at $337,050. This trade represents a 11.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,334 shares of company stock valued at $117,158 in the last quarter. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position in Allegiant Travel by 6.9% during the 1st quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock valued at $237,000 after buying an additional 203 shares during the period. 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 buying an additional 273 shares during the period. Nisa Investment Advisors LLC raised its holdings in Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after purchasing an additional 304 shares in the last quarter. Privium Fund Management UK Ltd raised its holdings in Allegiant Travel by 3.5% in the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock worth $581,000 after purchasing an additional 358 shares in the last quarter. Finally, SeaCrest Wealth Management LLC raised its holdings in Allegiant Travel by 8.1% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock worth $331,000 after purchasing an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $77.69 on Friday. The company’s 50 day moving average is $57.95 and its 200-day moving average is $51.85. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.43 billion, a P/E ratio of -51.79, a price-to-earnings-growth ratio of 5.92 and a beta of 1.61.

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 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.