Brokerages Set Allegiant Travel (NASDAQ:ALGT) Price Target at $79.60

Allegiant Travel (NASDAQ:ALGT) has received an average rating of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $79.60.

A number of equities research analysts have issued reports on the company. Barclays upped their price objective on Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group upped their price objective on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Morgan Stanley upped their target price on 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 target price on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, December 17th. Finally, Bank of America upped their target price on Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research note on Friday, January 17th.

Allegiant Travel Trading Up 1.5 %

Shares of ALGT stock opened at $104.24 on Thursday. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $106.87. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $89.81 and its two-hundred day simple moving average is $65.40. The company has a market cap of $1.91 billion, a PE ratio of -69.49, a price-to-earnings-growth ratio of 1.35 and a beta of 1.62.

Insider Buying and Selling at Allegiant Travel

In other news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction 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 sale, the chairman now owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. This represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction 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 sale, the director now owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

Several hedge funds and other institutional investors have recently made changes to their positions in ALGT. Renaissance Technologies LLC purchased a new stake in shares of Allegiant Travel during the 2nd quarter valued at $1,728,000. Sei Investments Co. raised its stake in Allegiant Travel by 22.0% in the 2nd quarter. Sei Investments Co. now owns 12,108 shares of the transportation company’s stock worth $608,000 after acquiring an additional 2,180 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Allegiant Travel by 8.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 31,834 shares of the transportation company’s stock worth $1,599,000 after acquiring an additional 2,467 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Allegiant Travel in the 2nd quarter worth $3,122,000. Finally, AQR Capital Management LLC purchased a new position in Allegiant Travel in the 2nd quarter worth $450,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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.