Allegiant Travel (NASDAQ:ALGT) had its target price hoisted by investment analysts at Imperial Capital from $132.00 to $150.00 in a report issued on Tuesday, MarketBeat Ratings reports. The firm currently has an “in-line” rating on the transportation company’s stock. Imperial Capital’s target price would suggest a potential downside of 2.06% from the company’s current price.
A number of other equities analysts have also recently commented on the stock. Raymond James Financial reissued a “hold” rating on shares of Allegiant Travel in a research note on Monday, December 4th. Buckingham Research cut shares of Allegiant Travel from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Zacks Investment Research raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Monday, December 4th. Cowen reaffirmed a “market perform” rating and set a $158.00 price target (up from $145.00) on shares of Allegiant Travel in a research note on Friday, December 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $135.00 price target on shares of Allegiant Travel in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $146.64.
Shares of Allegiant Travel (NASDAQ ALGT) traded down $0.20 during trading hours on Tuesday, hitting $153.15. 122,700 shares of the company’s stock were exchanged, compared to its average volume of 138,103. Allegiant Travel has a 1-year low of $111.54 and a 1-year high of $182.25. The stock has a market cap of $2,408.47, a PE ratio of 16.09 and a beta of 0.16. The company has a quick ratio of 1.01, a current ratio of 1.05 and a debt-to-equity ratio of 1.78.
In other news, CFO Scott Sheldon sold 5,872 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $137.63, for a total value of $808,163.36. Following the completion of the sale, the chief financial officer now owns 21,202 shares in the company, valued at approximately $2,918,031.26. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President John Redmond purchased 11,000 shares of Allegiant Travel stock in a transaction dated Friday, October 27th. The stock was acquired at an average price of $138.28 per share, with a total value of $1,521,080.00. Following the acquisition, the president now owns 92,574 shares in the company, valued at approximately $12,801,132.72. The disclosure for this purchase can be found here. Insiders own 22.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ALGT. Bank of Montreal Can raised its stake in shares of Allegiant Travel by 28.9% during the 2nd quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock worth $112,000 after acquiring an additional 186 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Allegiant Travel by 4.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 17,939 shares of the transportation company’s stock worth $2,431,000 after acquiring an additional 708 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Allegiant Travel during the 2nd quarter worth approximately $212,000. Canada Pension Plan Investment Board raised its stake in shares of Allegiant Travel by 22.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,000 shares of the transportation company’s stock worth $814,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Allegiant Travel by 8.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 79,170 shares of the transportation company’s stock worth $10,736,000 after acquiring an additional 5,991 shares in the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.
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About Allegiant Travel
Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.
