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

Allegiant Travel (NASDAQ:ALGT) had its price target raised by research analysts at Barclays from $50.00 to $75.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price target would suggest a potential downside of 1.03% from the company’s current price.

Several other research analysts also recently commented on ALGT. Evercore ISI lifted their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. TD Cowen upped their price target on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 1st. Wolfe Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Susquehanna upped their target price on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $68.50.

Allegiant Travel Trading Up 1.7 %

ALGT traded up $1.24 on Thursday, hitting $75.78. 115,168 shares of the company were exchanged, compared to its average volume of 370,614. 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 fifty day simple moving average of $56.50 and a two-hundred day simple moving average of $51.54. The stock has a market capitalization of $1.39 billion, a PE ratio of -50.08, a price-to-earnings-growth ratio of 5.92 and a beta of 1.61. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $85.91.

Insider Transactions at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the transaction, the chief operating officer now directly owns 16,353 shares in the company, valued at approximately $1,025,169.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction on 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 owns 16,353 shares in the company, valued at approximately $1,025,169.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were 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 owns 7,490 shares of the company’s stock, valued at approximately $337,050. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,334 shares of company stock worth $117,158. 15.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC boosted its position in Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after buying an additional 304 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Allegiant Travel in the 2nd quarter worth approximately $34,000. NBC Securities Inc. grew its position in shares of Allegiant Travel by 2,827.9% in the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after buying an additional 1,216 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after acquiring an additional 930 shares in the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

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.