Citigroup Lowers Allegiant Travel (NASDAQ:ALGT) Price Target to $98.00

Allegiant Travel (NASDAQ:ALGT) had its target price cut by Citigroup from $114.00 to $98.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Citigroup’s price objective would suggest a potential upside of 27.19% from the stock’s previous close.

Several other analysts also recently weighed in on ALGT. Barclays lifted their target price 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. Bank of America upgraded Allegiant Travel from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $55.00 to $95.00 in a research note on Tuesday, January 6th. Susquehanna restated a “positive” rating and set a $110.00 price target on shares of Allegiant Travel in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft raised Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Friday, December 12th. Finally, Raymond James Financial downgraded Allegiant Travel from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the company from $78.00 to $98.00 in a report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $97.64.

Allegiant Travel Trading Down 2.8%

Shares of ALGT stock opened at $77.05 on Friday. Allegiant Travel has a 1-year low of $39.80 and a 1-year high of $118.00. The firm has a market cap of $1.42 billion, a PE ratio of -29.98, a price-to-earnings-growth ratio of 0.18 and a beta of 1.56. The company has a 50-day moving average of $93.73 and a two-hundred day moving average of $79.09. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.95 and a quick ratio of 0.92.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $114.00, for a total value 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 trade represents a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders have sold 300,000 shares of company stock worth $34,350,512. 14.70% of the stock is owned by corporate insiders.

Institutional Trading of Allegiant Travel

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Allegiant Travel by 4.1% in the third quarter. Vanguard Group Inc. now owns 1,677,608 shares of the transportation company’s stock valued at $101,948,000 after purchasing an additional 66,596 shares during the period. Donald Smith & CO. Inc. increased its holdings in Allegiant Travel by 11.6% during the 2nd quarter. Donald Smith & CO. Inc. now owns 1,506,633 shares of the transportation company’s stock worth $82,789,000 after purchasing an additional 156,186 shares during the period. Dimensional Fund Advisors LP increased its holdings in Allegiant Travel by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 828,012 shares of the transportation company’s stock worth $70,607,000 after purchasing an additional 7,228 shares during the period. American Century Companies Inc. raised its position in Allegiant Travel by 5.7% in the 3rd quarter. American Century Companies Inc. now owns 688,322 shares of the transportation company’s stock valued at $41,829,000 after purchasing an additional 37,205 shares in the last quarter. Finally, Par Capital Management Inc. raised its position in Allegiant Travel by 11.1% in the 2nd quarter. Par Capital Management Inc. now owns 584,996 shares of the transportation company’s stock valued at $32,146,000 after purchasing an additional 58,566 shares in the last quarter. Hedge funds and other institutional investors 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.