Allegiant Travel (NASDAQ:ALGT) Hits New 1-Year High – Here’s Why

Shares of Allegiant Travel Company (NASDAQ:ALGT) hit a new 52-week high on Tuesday . The stock traded as high as $118.00 and last traded at $113.93, with a volume of 777021 shares changing hands. The stock had previously closed at $114.79.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALGT. 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 report on Monday, January 12th. UBS Group increased their target price on Allegiant Travel from $90.00 to $102.00 and gave the company a “neutral” rating in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Allegiant Travel in a report on Wednesday, January 21st. Morgan Stanley upped their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Friday, December 12th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $100.18.

Allegiant Travel Stock Down 0.7%

The company has a debt-to-equity ratio of 1.76, a current ratio of 0.98 and a quick ratio of 0.95. The company has a market capitalization of $2.09 billion, a PE ratio of -44.33, a P/E/G ratio of 0.26 and a beta of 1.64. The business’s 50 day simple moving average is $88.51 and its 200 day simple moving average is $71.28.

Hedge Funds Weigh In On Allegiant Travel

Large investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. increased its holdings in Allegiant Travel by 442.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 442 shares during the last quarter. Signaturefd LLC boosted its position in shares of Allegiant Travel by 27.3% during the fourth quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock worth $47,000 after buying an additional 117 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Allegiant Travel by 28.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock worth $51,000 after buying an additional 205 shares during the period. NewEdge Advisors LLC grew its stake in shares of Allegiant Travel by 43.7% in the second 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 raised its holdings in shares of Allegiant Travel by 119.2% in the 3rd quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock valued at $68,000 after buying an additional 609 shares during the period. 85.81% of the stock is currently owned by institutional investors and hedge funds.

About Allegiant Travel

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.