Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $110.00 at Raymond James

Allegiant Travel (NASDAQ:ALGT) had its target price raised by Raymond James from $75.00 to $110.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the transportation company’s stock.

ALGT has been the subject of several other research reports. StockNews.com downgraded Allegiant Travel from a “hold” rating to a “sell” rating in a report on Friday. Morgan Stanley lifted their price target on shares of Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. UBS Group began coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price objective on the stock. Evercore ISI lifted their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Finally, TD Cowen upped their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $69.11.

Allegiant Travel Stock Performance

Shares of ALGT opened at $92.24 on Monday. Allegiant Travel has a one year low of $36.08 and a one year high of $94.45. The company has a market cap of $1.69 billion, a PE ratio of -61.49, a P/E/G ratio of 7.17 and a beta of 1.67. The stock has a 50-day moving average of $76.68 and a 200-day moving average of $58.11. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72.

Insider Buying and Selling

In related news, Director Sandra Douglass Morgan sold 350 shares of Allegiant Travel stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the sale, the director now directly owns 11,650 shares in the company, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,600 shares of company stock worth $2,476,465. 15.80% of the stock is owned by insiders.

Institutional Trading of Allegiant Travel

A number of large investors have recently added to or reduced their stakes in ALGT. Signaturefd LLC boosted its stake in Allegiant Travel by 149.2% in the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 273 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after purchasing an additional 304 shares during the period. NBC Securities Inc. raised its holdings in shares of Allegiant Travel by 2,827.9% in the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after purchasing an additional 1,216 shares during the period. Headlands Technologies LLC lifted its stake in Allegiant Travel by 170.6% in the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 1,590 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in Allegiant Travel during the third quarter valued at $210,000. Hedge funds and other institutional investors 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.