Allegiant Travel (NASDAQ:ALGT) Sets New 52-Week High – Should You Buy?

Allegiant Travel (NASDAQ:ALGT) shares reached a new 52-week high on Monday . The stock traded as high as $86.71 and last traded at $86.00, with a volume of 242989 shares traded. The stock had previously closed at $79.09.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $83.00 price target on shares of Allegiant Travel in a research report on Friday, November 15th. Evercore ISI upped their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Susquehanna lifted their price target on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Barclays boosted their target price on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Allegiant Travel currently has an average rating of “Hold” and a consensus target price of $65.44.

Allegiant Travel Price Performance

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 firm has a market cap of $1.49 billion, a P/E ratio of -54.01, a P/E/G ratio of 6.95 and a beta of 1.61. The company has a 50-day moving average of $62.89 and a 200 day moving average of $52.92.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction on Monday, November 25th. The stock was 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 in the company, valued at approximately $181,397,275.80. The trade was a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel 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 directly owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This trade represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,600 shares of company stock worth $2,476,465. 15.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allegiant Travel

A number of institutional investors have recently made changes to their positions in ALGT. Vanguard Group Inc. grew its stake in Allegiant Travel by 2.3% in the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock valued at $131,591,000 after acquiring an additional 38,612 shares during the period. Harbor Capital Advisors Inc. grew its stake in Allegiant Travel by 7.9% in the second quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock valued at $381,000 after acquiring an additional 553 shares during the period. CWM LLC lifted its holdings in shares of Allegiant Travel by 275.1% in the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 930 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Allegiant Travel by 24.1% in the second quarter. 180 Wealth Advisors LLC now owns 9,049 shares of the transportation company’s stock valued at $444,000 after purchasing an additional 1,758 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Allegiant Travel in the second quarter valued at about $285,000. 85.81% of the stock is owned by institutional investors and hedge funds.

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.