TD Cowen Forecasts Strong Price Appreciation for Allegiant Travel (NASDAQ:ALGT) Stock

Allegiant Travel (NASDAQ:ALGT) had its price target increased by TD Cowen from $42.00 to $50.00 in a report published on Friday, Marketbeat.com reports. TD Cowen currently has a hold rating on the transportation company’s stock.

Several other analysts have also commented on ALGT. Evercore ISI raised their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Barclays dropped their target price on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Susquehanna increased their price target on shares of Allegiant Travel from $40.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Finally, Morgan Stanley decreased their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $65.38.

Allegiant Travel Stock Up 4.7 %

Shares of NASDAQ ALGT opened at $65.96 on Friday. The firm has a fifty day simple moving average of $51.72 and a two-hundred day simple moving average of $50.82. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $85.91. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $1.21 billion, a PE ratio of -43.97, a price-to-earnings-growth ratio of 4.25 and a beta of 1.61.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares of the company’s stock, valued at $337,050. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the transaction, the chief operating officer now owns 16,353 shares in the company, valued at approximately $1,025,169.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the director now directly owns 7,490 shares in the company, valued at approximately $337,050. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,334 shares of company stock worth $117,158. Corporate insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Signaturefd LLC grew its position in Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after acquiring an additional 304 shares during the period. Innealta Capital LLC purchased a new stake in Allegiant Travel during the second quarter valued at $34,000. NBC Securities Inc. lifted its holdings in Allegiant Travel by 2,827.9% in the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after acquiring an additional 1,216 shares during the period. Finally, CWM LLC boosted its position in Allegiant Travel by 275.1% in the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after purchasing an additional 930 shares during the last quarter. 85.81% of the stock is owned by hedge funds and other 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.