Zacks Research Upgrades Allegiant Travel (NASDAQ:ALGT) to Strong-Buy

Allegiant Travel (NASDAQ:ALGT) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Bank of America upgraded Allegiant Travel from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $55.00 to $95.00 in a research report on Tuesday, January 6th. Morgan Stanley raised their price target on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Barclays boosted their price objective on Allegiant Travel from $60.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday, January 12th. Susquehanna restated a “positive” rating and set a $110.00 target price on shares of Allegiant Travel in a research report on Friday, February 6th. Finally, Raymond James Financial downgraded shares of Allegiant Travel from a “strong-buy” rating to an “outperform” rating and upped their price target for the company from $78.00 to $98.00 in a research report on Friday, December 19th. One equities research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Allegiant Travel presently has a consensus rating of “Hold” and a consensus target price of $100.18.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $92.09 on Tuesday. The firm’s fifty day moving average price is $95.99 and its 200 day moving average price is $77.49. Allegiant Travel has a 12 month low of $39.80 and a 12 month high of $118.00. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.95 and a quick ratio of 0.92. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -35.83, a price-to-earnings-growth ratio of 0.21 and a beta of 1.56.

Insider Activity at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $114.00, for a total transaction of $98,154.00. Following the completion of the sale, the chairman directly owned 150,000 shares of the company’s stock, valued at $17,100,000. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 300,000 shares of company stock worth $34,350,512 in the last three months. 14.70% of the stock is owned by corporate insiders.

Institutional Trading of Allegiant Travel

Hedge funds have recently made changes to their positions in the company. MidFirst Bank purchased a new stake in shares of Allegiant Travel in the fourth quarter valued at about $114,000. XTX Topco Ltd purchased a new stake in Allegiant Travel in the 4th quarter valued at approximately $1,703,000. Susquehanna Fundamental Investments LLC boosted its holdings in Allegiant Travel by 196.6% in the 4th quarter. Susquehanna Fundamental Investments LLC now owns 29,572 shares of the transportation company’s stock valued at $2,522,000 after purchasing an additional 19,601 shares in the last quarter. Millennium Management LLC increased its position in Allegiant Travel by 0.5% during the 4th 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 period. Finally, Man Group plc raised its stake in shares of Allegiant Travel by 16.0% during the 4th quarter. Man Group plc now owns 29,488 shares of the transportation company’s stock worth $2,514,000 after buying an additional 4,065 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.