Allegiant Travel (NASDAQ:ALGT) Stock Price Expected to Rise, Barclays Analyst Says

Allegiant Travel (NASDAQ:ALGT) had its price objective increased by equities researchers at Barclays from $85.00 to $100.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s target price suggests a potential downside of 2.90% from the stock’s previous close.

A number of other brokerages also recently commented on ALGT. The Goldman Sachs Group boosted their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday. TD Cowen raised their price objective on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. Susquehanna lifted their target price on Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Raymond James increased their price target on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, December 30th. Finally, StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Allegiant Travel currently has an average rating of “Hold” and an average target price of $77.89.

Allegiant Travel Stock Up 0.9 %

Shares of ALGT stock traded up $0.87 during mid-day trading on Thursday, hitting $102.99. The stock had a trading volume of 86,398 shares, compared to its average volume of 286,026. 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 firm’s 50-day moving average is $85.21 and its two-hundred day moving average is $62.17. The firm has a market capitalization of $1.89 billion, a P/E ratio of -68.58, a price-to-earnings-growth ratio of 1.33 and a beta of 1.62. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $105.15.

Insiders Place Their Bets

In related news, Director Sandra Douglass Morgan sold 350 shares of Allegiant Travel stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the sale, the director now owns 11,650 shares of the company’s stock, valued at $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’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 transaction of $2,391,822.74. Following the transaction, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,304 shares of company stock valued at $2,459,900. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. raised its stake in shares of Allegiant Travel by 20.2% during the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock valued at $54,701,000 after buying an additional 167,148 shares during the last quarter. U S Global Investors Inc. raised its position in Allegiant Travel by 51.9% during the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after acquiring an additional 253,198 shares in the last quarter. State Street Corp boosted its position in Allegiant Travel by 1.7% in the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after purchasing an additional 10,050 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Allegiant Travel by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after purchasing an additional 14,852 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Allegiant Travel by 15.1% during the 2nd quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock worth $21,538,000 after purchasing an additional 56,208 shares during the period. 85.81% of the stock is owned by hedge funds and other institutional investors.

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.