Allegiant Travel (NASDAQ:ALGT) Stock Price Expected to Rise, Susquehanna Analyst Says

Allegiant Travel (NASDAQ:ALGT) had its price objective lifted by investment analysts at Susquehanna from $60.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s target price indicates a potential upside of 6.77% from the company’s current price.

Several other research firms have also recently issued reports on ALGT. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Saturday. UBS Group began coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price target on the stock. TD Cowen upped their price objective on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. Morgan Stanley boosted their price target on Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Evercore ISI boosted their target price on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Allegiant Travel has an average rating of “Hold” and an average price target of $74.11.

Allegiant Travel Trading Up 0.2 %

ALGT traded up $0.22 during trading on Tuesday, hitting $98.34. The company’s stock had a trading volume of 40,466 shares, compared to its average volume of 247,303. The stock has a market cap of $1.80 billion, a PE ratio of -65.56, a PEG ratio of 7.17 and a beta of 1.62. The firm’s 50 day moving average price is $80.38 and its 200-day moving average price is $59.84. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $101.00. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72.

Insider Buying and Selling

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the transaction, the director now directly owns 11,650 shares of the company’s stock, valued at $940,970.50. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Keny Frank Wilper sold 635 shares of the business’s 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 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. The trade was a 3.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,304 shares of company stock worth $2,459,900. 15.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Donald Smith & CO. Inc. lifted 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 worth $54,701,000 after acquiring an additional 167,148 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in 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 purchasing an additional 17,792 shares during the period. U S Global Investors Inc. grew its stake in 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 buying an additional 253,198 shares during the last quarter. State Street Corp boosted its holdings in shares of Allegiant Travel by 1.7% during the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after acquiring an additional 10,050 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Allegiant Travel by 2.5% during the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after acquiring an additional 14,852 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

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.