Allegiant Travel (NASDAQ:ALGT - Get Free Report)'s share price hit a new 52-week high on Thursday after Morgan Stanley raised their price target on the stock from $80.00 to $90.00. Morgan Stanley currently has an equal weight rating on the stock. Allegiant Travel traded as high as $87.67 and last traded at $86.70, with a volume of 387764 shares. The stock had previously closed at $82.78.
ALGT has been the topic of a number of other research reports. UBS Group initiated coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They set a "neutral" rating and a $16.00 target price on the stock. TD Cowen boosted their price target on shares of Allegiant Travel from $42.00 to $50.00 and gave the company a "hold" rating in a report on Friday, November 1st. Barclays boosted their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the company an "equal weight" rating in a report on Thursday, November 14th. Susquehanna boosted their price target on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $83.00 price target on shares of Allegiant Travel in a report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Allegiant Travel has an average rating of "Hold" and an average target price of $65.78.
View Our Latest Analysis on ALGT
In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the company's stock in a transaction dated 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 $181,397,275.80. This represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of the company's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the transaction, the director now owns 11,650 shares in the company, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,600 shares of company stock valued at $2,476,465. 15.80% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ALGT. CWM LLC lifted its position in Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company's stock worth $64,000 after buying an additional 930 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Allegiant Travel during the 2nd quarter worth about $285,000. SeaCrest Wealth Management LLC lifted its position in Allegiant Travel by 10.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,560 shares of the transportation company's stock valued at $279,000 after purchasing an additional 535 shares during the period. JB Capital LLC boosted its stake in shares of Allegiant Travel by 48.0% in the 2nd quarter. JB Capital LLC now owns 6,188 shares of the transportation company's stock valued at $311,000 after purchasing an additional 2,008 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Allegiant Travel by 7.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 215,533 shares of the transportation company's stock valued at $10,826,000 after purchasing an additional 15,469 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.
The company has a market cap of $1.59 billion, a P/E ratio of -57.80, a price-to-earnings-growth ratio of 6.60 and a beta of 1.67. 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's 50 day moving average price is $70.02 and its 200-day moving average price is $55.18.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Allegiant Travel, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Allegiant Travel wasn't on the list.
While Allegiant Travel currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.