Morgan Stanley Increases Allegiant Travel (NASDAQ:ALGT) Price Target to $95.00

Allegiant Travel (NASDAQ:ALGT) had its price objective boosted by Morgan Stanley from $90.00 to $95.00 in a research report report published on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the transportation company’s stock.

Several other equities analysts have also issued reports on ALGT. Barclays lifted their target price on Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group boosted their price target on Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Raymond James lifted their target price on Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Allegiant Travel has an average rating of “Hold” and an average target price of $80.10.

Allegiant Travel Stock Up 6.4 %

NASDAQ:ALGT opened at $89.29 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The stock has a fifty day simple moving average of $92.98 and a 200-day simple moving average of $67.83. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -59.53, a price-to-earnings-growth ratio of 1.36 and a beta of 1.63. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Analysts anticipate that Allegiant Travel will post 2.43 EPS for the current year.

Insider Buying and Selling at Allegiant Travel

In other news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the company’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 directly owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 stock was 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 of the company’s stock, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allegiant Travel

Hedge funds have recently modified their holdings of the business. Crews Bank & Trust purchased a new position in shares of Allegiant Travel during the 4th quarter worth $25,000. Signaturefd LLC lifted its stake in Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after acquiring an additional 273 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after acquiring an additional 223 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after acquiring an additional 304 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares in the last quarter. 85.81% of the stock is currently owned by hedge funds and other 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.