Allegiant Travel (NASDAQ:ALGT) Upgraded at Zacks Research

Zacks Research upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on the stock. Evercore lifted their price objective on shares of Allegiant Travel from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Raymond James Financial downgraded shares of Allegiant Travel from a “strong-buy” rating to an “outperform” rating and boosted their target price for the company from $78.00 to $98.00 in a research report on Friday, December 19th. Susquehanna reaffirmed a “positive” rating and set a $110.00 price target on shares of Allegiant Travel in a research report on Friday, February 6th. Morgan Stanley boosted their price objective on Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Finally, Barclays boosted their price target on Allegiant Travel from $60.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and an average target price of $100.18.

Allegiant Travel Stock Performance

Shares of ALGT opened at $84.13 on Tuesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.92 and a current ratio of 0.95. The stock has a 50-day moving average of $95.97 and a two-hundred day moving average of $77.54. The stock has a market cap of $1.55 billion, a P/E ratio of -32.74, a P/E/G ratio of 0.20 and a beta of 1.56. Allegiant Travel has a one year low of $39.80 and a one year high of $118.00.

Insider Buying and Selling

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of the stock in a transaction that occurred 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 transaction, the chairman owned 150,000 shares of the company’s stock, valued at $17,100,000. This represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 300,000 shares of company stock worth $34,350,512. 14.70% of the stock is currently owned by insiders.

Institutional Trading of Allegiant Travel

Large investors have recently made changes to their positions in the company. Heartland Advisors Inc. purchased a new position in Allegiant Travel in the 3rd quarter valued at $12,747,000. Balyasny Asset Management L.P. acquired a new stake in shares of Allegiant Travel in the fourth quarter valued at about $16,405,000. Donald Smith & CO. Inc. lifted its stake in shares of Allegiant Travel by 11.6% in the second quarter. Donald Smith & CO. Inc. now owns 1,506,633 shares of the transportation company’s stock worth $82,789,000 after buying an additional 156,186 shares in the last quarter. Apollo Management Holdings L.P. purchased a new position in shares of Allegiant Travel in the second quarter worth about $6,124,000. Finally, Jump Financial LLC boosted its position in Allegiant Travel by 195.5% during the second quarter. Jump Financial LLC now owns 127,800 shares of the transportation company’s stock worth $7,023,000 after acquiring an additional 84,555 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

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.