Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $120.00

Allegiant Travel (NASDAQ:ALGT) had its target price raised by UBS Group from $107.00 to $120.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

Several other analysts also recently commented on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and set a $120.00 price objective on shares of Allegiant Travel in a research report on Thursday, November 5th. Zacks Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 15th. Barclays decreased their price objective on shares of Allegiant Travel from $145.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, September 11th. Citigroup reaffirmed a “buy” rating on shares of Allegiant Travel in a research report on Tuesday, October 6th. Finally, Wall Street Zen downgraded Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allegiant Travel presently has an average rating of “Moderate Buy” and an average target price of $125.15.

Allegiant Travel Price Performance

ALGT stock traded down $0.36 during mid-day trading on Thursday, hitting $92.15. The stock had a trading volume of 325,435 shares, compared to its average volume of 560,929. The firm has a fifty day simple moving average of $77.51 and a 200 day simple moving average of $87.68. Allegiant Travel has a 52 week low of $61.36 and a 52 week high of $123.63. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $2.52 billion, a P/E ratio of 28.27, a P/E/G ratio of 0.27 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, November 4th. The transportation company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.41. The business had revenue of $961.56 million for the quarter, compared to analyst estimates of $946.44 million. Allegiant Travel had a return on equity of 11.95% and a net margin of 1.65%. Allegiant Travel’s revenue was up 71.2% compared to the same quarter last year. During the same period last year, the firm posted ($2.09) earnings per share. As a group, research analysts forecast that Allegiant Travel will post 6.72 EPS for the current year.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Charles W. Pollard sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $93.04, for a total transaction of $930,400.00. Following the completion of the sale, the director directly owned 16,000 shares in the company, valued at approximately $1,488,640. This trade represents a 38.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory Anderson sold 2,640 shares of the business’s stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $92.92, for a total value of $245,308.80. Following the completion of the transaction, the chief executive officer owned 118,209 shares of the company’s stock, valued at $10,983,980.28. This represents a 2.18% decrease in their position. The SEC filing for this sale provides additional information. 12.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Allegiant Travel

Several hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC bought a new position in Allegiant Travel in the 2nd quarter worth approximately $26,000. Allworth Financial LP bought a new position in shares of Allegiant Travel during the second quarter valued at approximately $26,000. Parallel Advisors LLC increased its stake in Allegiant Travel by 339.6% in the first quarter. Parallel Advisors LLC now owns 488 shares of the transportation company’s stock worth $40,000 after purchasing an additional 377 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Allegiant Travel during the second quarter worth approximately $42,000. Finally, Farther Finance Advisors LLC raised its position in Allegiant Travel by 40.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 584 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 168 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

About Allegiant Travel

Allegiant Travel Company is a leisure-focused travel company best known for operating Allegiant Air, a low-cost airline. The airline offers scheduled, nonstop flights connecting smaller and midsize U.S. cities with popular vacation destinations, along with optional services such as seat selection and baggage allowances. Allegiant’s route network is concentrated in the United States, with service tailored to leisure travelers and demand that can vary by season. The company also offers travel-related products, including hotel and rental-car bookings, to complement its flights.