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

Allegiant Travel (NASDAQ:ALGT) had its target price raised by equities research analysts at Morgan Stanley from $90.00 to $95.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s price target suggests a potential upside of 4.98% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Susquehanna raised their target price on Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Barclays raised their price objective on Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. TD Cowen upped their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group lifted their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Finally, Raymond James upped their price objective on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel has a consensus rating of “Hold” and an average target price of $80.10.

Allegiant Travel Stock Up 1.3 %

Shares of Allegiant Travel stock opened at $90.49 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $107.57. The company has a market cap of $1.66 billion, a P/E ratio of -60.33, a PEG ratio of 1.36 and a beta of 1.63. The company’s fifty day simple moving average is $93.15 and its two-hundred day simple moving average is $68.13.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $1.62. Allegiant Travel had a negative net margin of 1.04% and a positive return on equity of 0.63%. Research analysts anticipate that Allegiant Travel will post 2.43 EPS for the current year.

Insider Buying and Selling at Allegiant Travel

In other news, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction dated 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 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 SEC, which is available through this link. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction that occurred 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 owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

Hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. boosted its position 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 purchasing an additional 167,148 shares during the last quarter. U S Global Investors Inc. lifted its stake in shares of Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after purchasing an additional 253,198 shares during the period. State Street Corp boosted its holdings in shares of Allegiant Travel by 1.7% in the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after buying an additional 10,050 shares during the last quarter. Franklin Resources Inc. grew its position in Allegiant Travel by 2.5% during the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock valued at $34,584,000 after buying an additional 14,852 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Allegiant Travel by 1.5% during the third quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock valued at $20,089,000 after buying an additional 5,424 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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.