Shares of Allegiant Travel (NASDAQ:ALGT – Get Free Report) reached a new 52-week high during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $80.00 to $90.00. Morgan Stanley currently has an equal weight rating on the stock. Allegiant Travel traded as high as $87.67 and last traded at $86.70, with a volume of 387764 shares changing hands. The stock had previously closed at $82.78.
A number of other research analysts have also recently commented on the company. UBS Group initiated coverage on Allegiant Travel in a report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price objective on the stock. TD Cowen lifted their target price on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Barclays increased their price target on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a report on Friday, November 15th. Finally, Susquehanna increased their target price on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.78.
Get Our Latest Stock Report on ALGT
Insider Activity at Allegiant Travel
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. raised its holdings in shares of Allegiant Travel by 166.7% in the 2nd quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after purchasing an additional 516,545 shares in the last quarter. U S Global Investors Inc. increased its holdings in Allegiant Travel by 51.9% in 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 buying an additional 253,198 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Allegiant Travel in the second quarter valued at $8,959,000. Millennium Management LLC raised its stake in Allegiant Travel by 779.8% in the second quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock valued at $8,512,000 after buying an additional 150,197 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Allegiant Travel during the 3rd quarter worth about $63,540,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.
Allegiant Travel Trading Down 2.8 %
The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.56 billion, a PE ratio of -56.60, a P/E/G ratio of 7.17 and a beta of 1.67. The business has a fifty day moving average price of $71.21 and a 200 day moving average price of $55.66.
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.
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