Allegiant Travel (NASDAQ:ALGT) Stock Price Expected to Rise, Barclays Analyst Says

Allegiant Travel (NASDAQ:ALGT) had its price objective lifted by investment analysts at Barclays from $50.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the transportation company’s stock. Barclays‘s target price points to a potential downside of 3.46% from the company’s current price.

Other analysts have also issued research reports about the stock. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. TD Cowen lifted their price objective on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Susquehanna lifted their price objective on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Evercore ISI lifted their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $70.11.

Allegiant Travel Stock Performance

ALGT opened at $77.69 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 company’s fifty day moving average price is $57.95 and its two-hundred day moving average price is $51.85. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $85.91. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -51.79, a PEG ratio of 5.92 and a beta of 1.61.

Insider Activity at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction that occurred 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 directly owns 16,353 shares in the company, valued at approximately $1,025,169.57. The trade was a 3.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 owns 7,490 shares of the company’s stock, valued at approximately $337,050. The trade was a 11.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,334 shares of company stock valued at $117,158. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Donald Smith & CO. Inc. raised its holdings in Allegiant Travel by 166.7% during the 2nd quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after buying an additional 516,545 shares during the last quarter. U S Global Investors Inc. raised its holdings 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 valued at $40,823,000 after buying an additional 253,198 shares during the last quarter. Clearbridge Investments LLC bought a new stake in Allegiant Travel during the 2nd quarter valued at $8,959,000. Millennium Management LLC increased its position in Allegiant Travel by 779.8% during the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock valued at $8,512,000 after purchasing an additional 150,197 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Allegiant Travel during the 3rd quarter valued at $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.