Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $93.00

Allegiant Travel (NASDAQ:ALGT) had its price objective hoisted by investment analysts at UBS Group from $90.00 to $93.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. UBS Group’s price target points to a potential upside of 13.26% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. Wall Street Zen raised Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Sunday, December 28th. Citigroup lowered their target price on shares of Allegiant Travel from $114.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday. Susquehanna reissued a “positive” rating and set a $110.00 target price on shares of Allegiant Travel in a research report on Friday, February 6th. Weiss Ratings restated a “sell (d)” rating on shares of Allegiant Travel in a report on Wednesday, January 21st. Finally, Raymond James Financial lowered Allegiant Travel from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the stock from $78.00 to $98.00 in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $97.91.

Allegiant Travel Stock Up 6.6%

Shares of ALGT traded up $5.06 during trading hours on Monday, hitting $82.11. 184,866 shares of the company were exchanged, compared to its average volume of 561,052. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.92 and a current ratio of 0.95. The company has a market cap of $1.51 billion, a PE ratio of -31.97, a PEG ratio of 0.18 and a beta of 1.55. The firm’s 50 day moving average is $93.73 and its 200-day moving average is $79.19. Allegiant Travel has a 52 week low of $39.80 and a 52 week high of $118.00.

Insiders Place Their Bets

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $114.00, for a total value of $98,154.00. Following the sale, the chairman owned 150,000 shares of the company’s stock, valued at $17,100,000. The trade was a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 300,000 shares of company stock worth $34,350,512 in the last 90 days. 14.70% of the stock is owned by insiders.

Institutional Trading of Allegiant Travel

Several institutional investors have recently made changes to their positions in ALGT. Price T Rowe Associates Inc. MD boosted its holdings in shares of Allegiant Travel by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,862 shares of the transportation company’s stock worth $1,694,000 after acquiring an additional 106 shares in the last quarter. Signaturefd LLC boosted its stake in Allegiant Travel by 27.3% in the fourth quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock worth $47,000 after purchasing an additional 117 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Allegiant Travel by 0.5% during the fourth quarter. Millennium Management LLC now owns 27,453 shares of the transportation company’s stock worth $2,341,000 after purchasing an additional 134 shares during the last quarter. FourThought Financial Partners LLC lifted its position in Allegiant Travel by 4.1% during the 4th quarter. FourThought Financial Partners LLC now owns 3,458 shares of the transportation company’s stock worth $295,000 after buying an additional 137 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Allegiant Travel by 4.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,759 shares of the transportation company’s stock valued at $228,000 after acquiring an additional 176 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

About Allegiant Travel

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.