Allegiant Travel (NASDAQ:ALGT) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Allegiant Travel (ALGT) from "hold" to a "strong‑buy."
• Several other firms have raised ratings and price targets (average target $100.18), but the MarketBeat consensus remains a "Hold" despite recent upgrades and a 52‑week range of $39.80–$118.00.
• Chairman Maurice J. Gallagher Jr. sold 175,000 shares for about $19.99 million (part of insiders selling 300,000 shares this quarter), while insiders still own roughly 14.7% of the stock.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Allegiant Travel from a "hold" rating to a "buy" rating and set a $105.00 target price on the stock in a report on Friday, December 12th. Evercore lifted their price target on shares of Allegiant Travel from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, February 5th. Barclays increased their price objective on Allegiant Travel from $60.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Monday, January 12th. Susquehanna restated a "positive" rating and issued a $110.00 target price on shares of Allegiant Travel in a research report on Friday, February 6th. Finally, Wolfe Research raised Allegiant Travel from a "peer perform" rating to an "outperform" rating and set a $108.00 price target on the stock in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $100.18.

Allegiant Travel Price Performance

Shares of ALGT opened at $92.09 on Tuesday. Allegiant Travel has a 52-week low of $39.80 and a 52-week high of $118.00. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 1.60. The stock has a fifty day simple moving average of $95.99 and a two-hundred day simple moving average of $77.49. The company has a market capitalization of $1.70 billion, a PE ratio of -35.83, a price-to-earnings-growth ratio of 0.21 and a beta of 1.56.

Insider Transactions at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 175,000 shares of the firm's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $114.23, for a total transaction of $19,990,250.00. Following the completion of the transaction, the chairman directly owned 1,962,348 shares in the company, valued at $224,159,012.04. This trade represents a 8.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders sold 300,000 shares of company stock worth $34,350,512. 14.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Allegiant Travel

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Allegiant Travel by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,677,608 shares of the transportation company's stock worth $101,948,000 after purchasing an additional 66,596 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in 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 valued at $82,789,000 after buying an additional 156,186 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 buying an additional 7,228 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Allegiant Travel by 5.7% during the 3rd quarter. American Century Companies Inc. now owns 688,322 shares of the transportation company's stock worth $41,829,000 after acquiring an additional 37,205 shares in the last quarter. Finally, Par Capital Management Inc. boosted its position in shares of Allegiant Travel by 11.1% during the 2nd quarter. Par Capital Management Inc. now owns 584,996 shares of the transportation company's stock worth $32,146,000 after acquiring an additional 58,566 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.

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