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

Allegiant Travel (NASDAQ:ALGT) had its target price raised by Barclays from $50.00 to $75.00 in a research note released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

ALGT has been the topic of several other reports. Susquehanna upped their price objective on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. TD Cowen upped their price target on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Evercore ISI lifted their price objective on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Finally, Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.11.

Allegiant Travel Price Performance

Shares of Allegiant Travel stock traded up $0.47 during trading on Thursday, hitting $76.55. 287,941 shares of the company’s stock traded hands, compared to its average volume of 371,136. The company has a market cap of $1.40 billion, a PE ratio of -51.95, a PEG ratio of 5.92 and a beta of 1.61. The firm’s fifty day moving average price is $57.21 and its 200 day moving average price is $51.71. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $85.91. 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 Activity at Allegiant Travel

In other news, Director Gary Ellmer sold 1,000 shares of the business’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 transaction, the director now owns 7,490 shares of the company’s stock, valued at $337,050. The trade was a 11.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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 $1,025,169.57. This trade represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,334 shares of company stock worth $117,158 over the last ninety days. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

A number of institutional investors have recently modified their holdings of ALGT. Donald Smith & CO. Inc. lifted its position in shares of Allegiant Travel by 166.7% in the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock worth $41,506,000 after purchasing an additional 516,545 shares in the last quarter. U S Global Investors Inc. lifted its position in Allegiant Travel by 51.9% during the 3rd 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 in the last quarter. Clearbridge Investments LLC acquired a new position in shares of Allegiant Travel during the 2nd quarter worth about $8,959,000. Millennium Management LLC boosted its stake in shares of Allegiant Travel by 779.8% during the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock worth $8,512,000 after buying an additional 150,197 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Allegiant Travel in the 3rd quarter valued at about $63,540,000. 85.81% of the stock is currently owned by institutional investors.

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.