Allegiant Travel (NASDAQ:ALGT) was upgraded by equities research analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm presently has a $180.00 price target on the transportation company’s stock, up from their previous price target of $130.00. Deutsche Bank’s price objective points to a potential upside of 17.84% from the company’s current price.
Several other brokerages have also weighed in on ALGT. Imperial Capital upped their target price on Allegiant Travel from $132.00 to $150.00 and gave the stock an “in-line” rating in a research report on Tuesday. Cowen reaffirmed a “market perform” rating and issued a $158.00 target price (up from $145.00) on shares of Allegiant Travel in a research report on Friday, December 1st. Buckingham Research lowered Allegiant Travel from a “buy” rating to a “neutral” rating in a research report on Monday, December 4th. Raymond James Financial reaffirmed a “hold” rating on shares of Allegiant Travel in a research report on Monday, December 4th. Finally, Zacks Investment Research raised Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Monday, December 4th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $151.18.
Allegiant Travel (ALGT) traded down $0.40 during trading hours on Thursday, reaching $152.75. The company had a trading volume of 75,000 shares, compared to its average volume of 137,845. The firm has a market capitalization of $2,462.33, a price-to-earnings ratio of 16.45 and a beta of 0.16. Allegiant Travel has a 52-week low of $111.54 and a 52-week high of $182.25. 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 company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $137.63, for a total transaction 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 filing with the SEC, which is accessible through this hyperlink. Also, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $148.85, for a total value of $148,850.00. Following the sale, the director now owns 2,120 shares of the company’s stock, valued at approximately $315,562. The disclosure for this sale can be found here. Corporate insiders own 21.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake in shares of Allegiant Travel by 2.5% during the 3rd quarter. California Public Employees Retirement System now owns 28,801 shares of the transportation company’s stock worth $3,793,000 after acquiring an additional 701 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Allegiant Travel by 47.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,258 shares of the transportation company’s stock worth $166,000 after acquiring an additional 402 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Allegiant Travel during the 3rd quarter worth about $408,000. Segall Bryant & Hamill LLC bought a new stake in shares of Allegiant Travel during the 3rd quarter worth about $6,141,000. Finally, Royce & Associates LP boosted its stake in shares of Allegiant Travel by 1,515.5% during the 3rd quarter. Royce & Associates LP now owns 197,103 shares of the transportation company’s stock worth $25,958,000 after acquiring an additional 184,902 shares in the last quarter. 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.
