Research Analysts’ Recent Ratings Updates for Allegiant Travel (ALGT)

Allegiant Travel (NASDAQ: ALGT) has recently received a number of price target changes and ratings updates:

• 11/15/2024 – Allegiant Travel had its “neutral” rating reaffirmed by analysts at The Goldman Sachs Group, Inc.. They now have a $83.00 price target on the stock.
• 11/14/2024 – Allegiant Travel had its price target raised by analysts at Barclays PLC from $50.00 to $75.00. They now have an “equal weight” rating on the stock.
• 11/4/2024 – Allegiant Travel had its price target raised by analysts at Susquehanna from $55.00 to $60.00. They now have a “neutral” rating on the stock.
• 11/4/2024 – Allegiant Travel was downgraded by analysts at Wolfe Research from a “strong-buy” rating to a “hold” rating.
• 11/4/2024 – Allegiant Travel had its price target raised by analysts at Barclays PLC from $45.00 to $50.00. They now have an “equal weight” rating on the stock.
• 11/1/2024 – Allegiant Travel had its price target raised by analysts at TD Cowen from $42.00 to $50.00. They now have a “hold” rating on the stock.
• 10/9/2024 – Allegiant Travel had its price target raised by analysts at Susquehanna from $40.00 to $55.00. They now have a “neutral” rating on the stock.
• 10/3/2024 – Allegiant Travel had its price target raised by analysts at Evercore ISI from $60.00 to $65.00. They now have an “in-line” rating on the stock.
• 10/3/2024 – Allegiant Travel had its price target raised by analysts at TD Cowen from $33.00 to $42.00. They now have a “hold” rating on the stock.

Allegiant Travel Stock Performance

NASDAQ:ALGT traded up $4.73 during trading hours on Monday, reaching $83.82. The stock had a trading volume of 432,225 shares, compared to its average volume of 372,417. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $86.94. The stock has a 50 day simple moving average of $61.26 and a 200 day simple moving average of $52.52. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The stock has a market cap of $1.54 billion, a P/E ratio of -55.88, a price-to-earnings-growth ratio of 6.54 and a beta of 1.61.

Insiders Place Their Bets

In other news, 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 transaction, the chief operating officer now owns 16,353 shares in the company, valued at approximately $1,025,169.57. The trade was a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Signaturefd LLC raised its holdings in Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares during the period. Nisa Investment Advisors LLC raised its holdings in Allegiant Travel by 136.9% during the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 304 shares during the period. Innealta Capital LLC bought a new stake in Allegiant Travel during the second quarter valued at about $34,000. CWM LLC raised its holdings in Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 930 shares during the period. Finally, NBC Securities Inc. raised its holdings in Allegiant Travel by 2,827.9% during the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after acquiring an additional 1,216 shares during the period. 85.81% of the stock is owned by institutional investors.

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.