Allegiant Travel’s (ALGT) Neutral Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their neutral rating on shares of Allegiant Travel (NASDAQ:ALGT) in a research note published on Friday, MarketBeat reports. The Goldman Sachs Group currently has a $83.00 price objective on the transportation company’s stock.

Several other brokerages have also commented on ALGT. Barclays increased their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Susquehanna upped their price target on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. TD Cowen increased their price objective on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 1st. 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $70.11.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $77.69 on Friday. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $85.91. The stock’s 50-day moving average is $57.95 and its two-hundred day moving average is $51.82. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The firm has a market cap of $1.42 billion, a P/E ratio of -51.79, a PEG ratio of 6.17 and a beta of 1.61.

Insiders Place Their Bets

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director now directly owns 7,490 shares in the company, valued at $337,050. This trade represents a 11.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 directly owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,931 shares of company stock valued at $101,372 in the last three months. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Allegiant Travel by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after acquiring an additional 38,612 shares during the period. Donald Smith & CO. Inc. lifted its stake in Allegiant Travel by 20.2% during 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 period. Diamond Hill Capital Management Inc. boosted its holdings in Allegiant Travel by 1.9% during the second 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 in the last quarter. U S Global Investors Inc. boosted its holdings in Allegiant Travel by 51.9% during the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after purchasing an additional 253,198 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Allegiant Travel by 1.7% in the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after purchasing an additional 10,050 shares during the period. 85.81% of the stock is currently owned by institutional investors.

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.