Allegiant Travel (NASDAQ:ALGT) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Allegiant Travel (NASDAQ:ALGT) had its price target lifted by analysts at The Goldman Sachs Group from $83.00 to $92.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. The Goldman Sachs Group’s target price points to a potential downside of 9.91% from the company’s current price.

ALGT has been the subject of several other reports. Susquehanna lifted their price objective on shares of Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Evercore ISI upped their price objective on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. TD Cowen raised their target price on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. Raymond James boosted their price objective on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, December 30th. Finally, Barclays increased their target price on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $75.11.

Allegiant Travel Stock Up 1.1 %

Shares of Allegiant Travel stock opened at $102.12 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The company has a market cap of $1.87 billion, a P/E ratio of -68.08, a PEG ratio of 7.17 and a beta of 1.62. The firm’s 50 day moving average price is $84.64 and its 200-day moving average price is $61.89. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $105.15.

Insider Transactions at Allegiant Travel

In other Allegiant Travel 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction that occurred on 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,304 shares of company stock valued at $2,459,900 in the last 90 days. 15.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allegiant Travel

Several large investors have recently made changes to their positions in ALGT. U S Global Investors Inc. boosted its position in shares of Allegiant Travel by 51.9% in the third 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 period. Clearbridge Investments LLC purchased a new position in Allegiant Travel in the 2nd quarter worth approximately $8,959,000. Donald Smith & CO. Inc. boosted its holdings in Allegiant Travel by 20.2% in the 3rd 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 period. Millennium Management LLC grew its position in Allegiant Travel by 779.8% in the second quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock valued at $8,512,000 after acquiring an additional 150,197 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Allegiant Travel during the third quarter valued at approximately $63,540,000. Institutional investors and hedge funds 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.