Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $70.00 at TD Cowen

Allegiant Travel (NASDAQ:ALGT) had its target price lifted by TD Cowen from $50.00 to $70.00 in a research note released on Tuesday, MarketBeat Ratings reports. They currently have a hold rating on the transportation company’s stock.

ALGT has been the subject of a number of other research reports. The Goldman Sachs Group restated a “neutral” rating and set a $83.00 price objective on shares of Allegiant Travel in a research report on Friday, November 15th. Evercore ISI raised their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Susquehanna boosted their target price on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. UBS Group started coverage on Allegiant Travel in a report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price target for the company. Finally, Morgan Stanley upped their price objective on Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Allegiant Travel presently has a consensus rating of “Hold” and a consensus target price of $68.00.

Allegiant Travel Trading Up 1.6 %

Shares of ALGT stock opened at $82.12 on Tuesday. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $94.45. 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 business’s 50 day moving average is $73.31 and its two-hundred day moving average is $56.55. The company has a market capitalization of $1.51 billion, a P/E ratio of -54.75, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67.

Insider Buying and Selling at Allegiant Travel

In related 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 sale, the chairman now owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel 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 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 disclosure for this sale can be found here. In the last three months, insiders sold 29,600 shares of company stock worth $2,476,465. 15.80% of the stock is owned by corporate insiders.

Institutional Trading of Allegiant Travel

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of Allegiant Travel during the 3rd quarter worth $63,540,000. Charles Schwab Investment Management Inc. lifted its position in Allegiant Travel by 41.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock worth $14,176,000 after buying an additional 75,486 shares during the period. Clearbridge Investments LLC acquired a new stake in Allegiant Travel in the 2nd quarter worth about $8,959,000. Hauser Brothers GmbH grew its holdings in Allegiant Travel by 73.0% in the 3rd quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company’s stock valued at $1,305,000 after buying an additional 10,000 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Allegiant Travel during the 2nd quarter valued at about $764,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.