Allegiant Travel (NASDAQ:ALGT) Given New $100.00 Price Target at Barclays

Allegiant Travel (NASDAQ:ALGT) had its target price boosted by Barclays from $85.00 to $100.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the transportation company’s stock.

ALGT has been the topic of several other reports. Evercore ISI boosted their price target on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Susquehanna upped their price objective on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group raised their price objective on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Morgan Stanley increased their target price on Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Finally, StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $79.60.

Allegiant Travel Stock Up 0.6 %

Shares of Allegiant Travel stock opened at $102.99 on Thursday. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $105.15. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -68.66, a price-to-earnings-growth ratio of 1.33 and a beta of 1.62. 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 has a fifty day moving average price of $86.42 and a 200 day moving average price of $62.91.

Insider Activity

In related news, Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the sale, the director now owns 11,650 shares in the company, valued at approximately $940,970.50. This represents a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of the stock in a transaction 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 $1,025,169.57. The trade was a 3.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,304 shares of company stock worth $2,459,900. Corporate insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in Allegiant Travel by 1,614.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company’s stock valued at $849,000 after acquiring an additional 8,491 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in shares of Allegiant Travel by 3.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock valued at $584,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 236 shares during the period. Franklin Resources Inc. raised its holdings in Allegiant Travel by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after acquiring an additional 14,852 shares during the period. Finally, Barclays PLC lifted its position in Allegiant Travel by 136.9% during the 3rd quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock worth $1,755,000 after acquiring an additional 18,421 shares during the last quarter. 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.