Citigroup Raises Allegiant Travel (ALGT) Price Target to $167.00
Allegiant Travel (NASDAQ:ALGT) had its price target raised by Citigroup to $167.00 in a research note released on Thursday, The Fly reports. They currently have a buy rating on the transportation company’s stock.
ALGT has been the subject of several other reports. BidaskClub upgraded Allegiant Travel from a strong sell rating to a sell rating in a report on Tuesday, October 16th. Imperial Capital reiterated an in-line rating and issued a $152.00 price target (up from $124.00) on shares of Allegiant Travel in a report on Tuesday, December 4th. ValuEngine downgraded Allegiant Travel from a hold rating to a sell rating in a report on Wednesday, September 12th. Wolfe Research downgraded Allegiant Travel from an outperform rating to a peer perform rating in a report on Friday, September 14th. Finally, Goldman Sachs Group assumed coverage on shares of Allegiant Travel in a research note on Monday, November 12th. They set a buy rating and a $167.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $144.60.
ALGT traded up $1.07 during trading on Thursday, hitting $121.33. The company’s stock had a trading volume of 131,300 shares, compared to its average volume of 198,500. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.50 and a current ratio of 0.53. The company has a market capitalization of $1.89 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 0.43 and a beta of 0.71. Allegiant Travel has a twelve month low of $98.18 and a twelve month high of $181.45.
In related news, EVP Robert Paul Wilson III sold 486 shares of the company’s stock in a transaction on Thursday, December 20th. The shares were sold at an average price of $111.98, for a total transaction of $54,422.28. Following the completion of the sale, the executive vice president now directly owns 17,330 shares of the company’s stock, valued at approximately $1,940,613.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President John Redmond purchased 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The shares were acquired at an average cost of $115.42 per share, with a total value of $1,385,040.00. Following the completion of the transaction, the president now owns 102,125 shares in the company, valued at approximately $11,787,267.50. The disclosure for this purchase can be found here. 20.80% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in ALGT. Schroder Investment Management Group boosted its position in Allegiant Travel by 206.3% during the 2nd quarter. Schroder Investment Management Group now owns 323,012 shares of the transportation company’s stock worth $4,970,000 after purchasing an additional 217,539 shares during the period. BlackRock Inc. boosted its position in Allegiant Travel by 8.9% during the 2nd quarter. BlackRock Inc. now owns 1,737,630 shares of the transportation company’s stock worth $241,443,000 after purchasing an additional 142,477 shares during the period. Clearbridge Investments LLC boosted its position in Allegiant Travel by 967,154.5% during the 3rd quarter. Clearbridge Investments LLC now owns 106,398 shares of the transportation company’s stock worth $13,491,000 after purchasing an additional 106,387 shares during the period. Diamond Hill Capital Management Inc. boosted its position in Allegiant Travel by 24.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 520,505 shares of the transportation company’s stock worth $66,000,000 after purchasing an additional 101,366 shares during the period. Finally, Matarin Capital Management LLC purchased a new stake in Allegiant Travel during the 3rd quarter worth $11,143,000. 86.06% of the stock is owned by hedge funds and other institutional investors.
About Allegiant Travel
Allegiant Travel Company, a leisure travel company, focuses on the provision of 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.
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