Allegiant Travel (NASDAQ:ALGT) Receives $65.44 Consensus Price Target from Analysts

Allegiant Travel (NASDAQ:ALGT) has earned an average rating of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $65.44.

Several brokerages have recently issued reports on ALGT. UBS Group began coverage on Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price objective for the company. Wolfe Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. TD Cowen lifted their price objective on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Susquehanna lifted 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. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a research note on Friday, November 15th.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $79.84 on Wednesday. The company has a market cap of $1.46 billion, a P/E ratio of -53.49, a P/E/G ratio of 6.54 and a beta of 1.67. 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 has a 50-day moving average of $67.78 and a two-hundred day moving average of $54.19. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $86.94.

Insider Buying and Selling

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’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 value 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. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 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. Insiders sold a total of 29,600 shares of company stock worth $2,476,465 over the last 90 days. 15.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Allegiant Travel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in shares of Allegiant Travel by 2.5% in the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock valued at $34,584,000 after purchasing an additional 14,852 shares during the period. Barclays PLC increased its holdings in shares of Allegiant Travel by 136.9% in the third quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock valued at $1,755,000 after purchasing an additional 18,421 shares during the period. Geode Capital Management LLC increased its holdings in shares of Allegiant Travel by 1.5% in the third quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock valued at $20,089,000 after purchasing an additional 5,424 shares during the period. XTX Topco Ltd increased its holdings in shares of Allegiant Travel by 15.0% in the third quarter. XTX Topco Ltd now owns 17,491 shares of the transportation company’s stock valued at $963,000 after purchasing an additional 2,279 shares during the period. Finally, State Street Corp increased its holdings in shares of Allegiant Travel by 1.7% in the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after purchasing an additional 10,050 shares during the period. 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.