UBS Group Issues Pessimistic Forecast for Allegiant Travel (NASDAQ:ALGT) Stock Price

by · The Markets Daily

Allegiant Travel (NASDAQ:ALGT – Get Free Report) had its price target dropped by equities research analysts at UBS Group from $102.00 to $90.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. UBS Group’s price objective would suggest a potential upside of 20.46% from the stock’s previous close.

Other analysts have also issued research reports about the company. Zacks Research upgraded Allegiant Travel from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Citigroup increased their price target on Allegiant Travel from $109.00 to $114.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. 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 report on Thursday, February 5th. Susquehanna restated a “positive” rating and set a $110.00 price target on shares of Allegiant Travel in a research note on Friday, February 6th. Finally, Evercore upped their price objective on shares of Allegiant Travel from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Allegiant Travel has a consensus rating of “Hold” and an average target price of $99.09.

Get Our Latest Stock Report on Allegiant Travel

Allegiant Travel Stock Down 0.4%

NASDAQ ALGT traded down $0.33 on Monday, reaching $74.71. 443,292 shares of the stock traded hands, compared to its average volume of 571,230. Allegiant Travel has a 12 month low of $39.80 and a 12 month high of $118.00. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -29.07, a PEG ratio of 0.17 and a beta of 1.55. The company has a fifty day moving average price of $95.28 and a 200-day moving average price of $78.69. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.92 and a current ratio of 0.95.

Insider Buying and Selling

In other 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 transaction of $98,154.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 300,000 shares of company stock valued at $34,350,512. Corporate insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALGT. MidFirst Bank purchased a new stake in Allegiant Travel in the 4th quarter worth $114,000. XTX Topco Ltd acquired a new position in shares of Allegiant Travel during the 4th quarter worth about $1,703,000. Susquehanna Fundamental Investments LLC lifted its stake 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 buying an additional 19,601 shares in the last quarter. Millennium Management LLC lifted its stake in Allegiant Travel by 0.5% in the 4th quarter. Millennium Management LLC now owns 27,453 shares of the transportation company’s stock valued at $2,341,000 after buying an additional 134 shares in the last quarter. Finally, Man Group plc boosted its holdings in Allegiant Travel by 16.0% in 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 during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Company Profile

(Get Free Report)

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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