Bank of America Increases Allegiant Travel (NASDAQ:ALGT) Price Target to $95.00

Allegiant Travel (NASDAQ:ALGT) had its target price hoisted by Bank of America from $54.00 to $95.00 in a research report report published on Friday,Benzinga reports. Bank of America currently has an underperform rating on the transportation company’s stock.

A number of other brokerages have also recently issued reports on ALGT. Susquehanna increased their target price on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Morgan Stanley raised their target price on shares of Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group lifted their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Evercore ISI boosted 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 report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $79.60.

Allegiant Travel Price Performance

Allegiant Travel stock opened at $102.99 on Friday. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $105.15. The stock has a market cap of $1.89 billion, a P/E ratio of -68.66, a price-to-earnings-growth ratio of 1.33 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. The company has a fifty day simple moving average of $86.42 and a 200-day simple moving average of $63.01.

Insider Transactions at Allegiant Travel

In related news, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction that occurred 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 sale, the director now owns 11,650 shares in the company, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the transaction, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,304 shares of company stock worth $2,459,900 in the last three months. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC grew its position in Allegiant Travel by 3.3% in the 4th quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock worth $584,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after buying an additional 236 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 273 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 304 shares during the last quarter. Finally, Privium Fund Management UK Ltd grew its holdings in Allegiant Travel by 3.5% in the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock worth $581,000 after acquiring an additional 358 shares during the last quarter. 85.81% of the stock is owned by 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.