Allegiant Travel (NASDAQ:ALGT) Given New $70.00 Price Target at TD Cowen

Allegiant Travel (NASDAQ:ALGT) had its price objective increased by TD Cowen from $50.00 to $70.00 in a research report sent to investors on Tuesday morning, Marketbeat reports. TD Cowen currently has a hold rating on the transportation company’s stock.

A number of other analysts have also recently weighed in on ALGT. Susquehanna raised their target price on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. UBS Group assumed coverage on Allegiant Travel in a research note on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price objective for the company. Wolfe Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 target price on shares of Allegiant Travel in a report on Friday, November 15th. Finally, Morgan Stanley lifted their price target on Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $68.00.

Allegiant Travel Price Performance

Shares of NASDAQ ALGT opened at $83.73 on Tuesday. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $94.45. 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 firm has a 50-day moving average of $72.30 and a two-hundred day moving average of $56.20. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -55.82, a PEG ratio of 7.17 and a beta of 1.67.

Insider Buying and Selling

In other news, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the transaction, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total value of $28,269.50. Following the sale, the director now owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,600 shares of company stock valued at $2,476,465. Corporate insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Signaturefd LLC lifted 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 buying an additional 273 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 304 shares during the last quarter. Privium Fund Management UK Ltd grew its position in Allegiant Travel by 3.5% in the third 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 in the last quarter. SeaCrest Wealth Management LLC increased its stake in shares of Allegiant Travel by 8.1% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock worth $331,000 after purchasing an additional 450 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in shares of Allegiant Travel by 8.1% during the 3rd quarter. Inspire Investing LLC now owns 7,490 shares of the transportation company’s stock worth $412,000 after purchasing an additional 562 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

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.