Allegiant Travel (NASDAQ:ALGT) Receives Consensus Recommendation of “Hold” from Brokerages

Allegiant Travel (NASDAQ:ALGT) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $79.60.

Several equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Susquehanna increased their price objective 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 upped their price target on Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. The Goldman Sachs Group lifted their price objective on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Evercore ISI upped 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.

Insider Activity

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’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 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

A number of institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in Allegiant Travel by 1,614.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company’s stock worth $849,000 after acquiring an additional 8,491 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Allegiant Travel during the 3rd quarter worth approximately $63,540,000. Charles Schwab Investment Management Inc. lifted its stake in Allegiant Travel by 41.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock valued at $14,176,000 after buying an additional 75,486 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Allegiant Travel during the 2nd quarter valued at $8,959,000. Finally, Hauser Brothers GmbH raised its holdings in shares of Allegiant Travel by 73.0% in the third quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company’s stock worth $1,305,000 after acquiring an additional 10,000 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Price Performance

ALGT opened at $103.36 on Thursday. The stock’s 50-day moving average price is $91.07 and its 200 day moving average price is $66.04. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $106.87. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -68.91, a PEG ratio of 1.35 and a beta of 1.62. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36.

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.