Allegiant Travel (NASDAQ:ALGT) Stock Price Expected to Rise, UBS Group Analyst Says

Allegiant Travel (NASDAQ:ALGT) had its price objective lifted by analysts at UBS Group from $90.00 to $93.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. UBS Group’s price objective suggests a potential upside of 13.26% from the stock’s current price.

Several other research analysts have also recently commented on ALGT. Evercore upped their target price on shares of Allegiant Travel from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Wolfe Research upgraded Allegiant Travel from a “peer perform” rating to an “outperform” rating and set a $108.00 target price on the stock in a research report on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Friday, December 12th. Barclays lifted their price objective on shares of Allegiant Travel from $60.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday, January 12th. Finally, Morgan Stanley increased their price objective on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $97.91.

Allegiant Travel Stock Performance

ALGT stock traded up $5.06 during mid-day trading on Monday, reaching $82.11. The company had a trading volume of 184,866 shares, compared to its average volume of 561,052. Allegiant Travel has a one year low of $39.80 and a one year high of $118.00. The stock has a market capitalization of $1.51 billion, a P/E ratio of -31.97, a P/E/G ratio of 0.18 and a beta of 1.55. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 1.60. The stock’s 50-day simple moving average is $93.73 and its two-hundred day simple moving average is $79.19.

Insider Activity

In other news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $114.00, for a total transaction of $98,154.00. Following the sale, the chairman owned 150,000 shares in the company, valued at $17,100,000. The trade was a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 300,000 shares of company stock worth $34,350,512 over the last quarter. 14.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegiant Travel

Institutional investors and hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. raised its holdings in shares of Allegiant Travel by 442.0% during the third quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock worth $33,000 after acquiring an additional 442 shares in the last quarter. Signaturefd LLC raised its stake in shares of Allegiant Travel by 27.3% during the 4th 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. Steward Partners Investment Advisory LLC lifted its holdings in shares of Allegiant Travel by 28.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock valued at $51,000 after buying an additional 205 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Allegiant Travel by 43.7% in the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock valued at $67,000 after buying an additional 373 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in Allegiant Travel by 119.2% in the third quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock worth $68,000 after buying an additional 609 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Company Profile

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.