Susquehanna Issues Positive Forecast for Allegiant Travel (NASDAQ:ALGT) Stock Price

Allegiant Travel (NASDAQ:ALGT) had its price objective boosted by Susquehanna from $55.00 to $60.00 in a report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price objective indicates a potential downside of 7.28% from the company’s current price.

A number of other research firms have also recently weighed in on ALGT. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and cut their price objective for the company from $75.00 to $53.00 in a report on Monday, July 8th. Evercore ISI upped their price target on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Barclays raised their price objective on Allegiant Travel from $45.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday. TD Cowen upped their target price on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Morgan Stanley dropped their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Allegiant Travel presently has a consensus rating of “Hold” and an average target price of $65.38.

Allegiant Travel Stock Performance

Allegiant Travel stock traded up $1.70 during mid-day trading on Monday, hitting $64.71. The company had a trading volume of 33,852 shares, compared to its average volume of 366,254. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -41.95, a P/E/G ratio of 4.25 and a beta of 1.61. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91. The company’s fifty day moving average is $51.72 and its 200-day moving average is $50.90. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now directly owns 7,490 shares of the company’s stock, valued at $337,050. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $337,050. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the transaction, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,334 shares of company stock worth $117,158. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALGT. Vanguard Group Inc. grew its stake in shares of Allegiant Travel by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after purchasing an additional 38,612 shares during the period. Donald Smith & CO. Inc. increased its holdings in Allegiant Travel by 20.2% in the third 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 in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Allegiant Travel by 1.9% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock valued at $47,509,000 after acquiring an additional 17,792 shares during the period. U S Global Investors Inc. boosted its stake in shares of Allegiant Travel by 51.9% during the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after acquiring an additional 253,198 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Allegiant Travel by 15.1% in the 2nd quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock worth $21,538,000 after acquiring an additional 56,208 shares during the period. 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.