Investment analysts at Goldman Sachs Group initiated coverage on shares of Allegiant Travel (NASDAQ:ALGT) in a research note issued to investors on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $167.00 price target on the transportation company’s stock. Goldman Sachs Group’s price objective would suggest a potential upside of 37.03% from the company’s previous close.
A number of other research firms also recently commented on ALGT. BidaskClub upgraded Allegiant Travel from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 21st. Zacks Investment Research downgraded Allegiant Travel from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Barclays decreased their target price on Allegiant Travel from $135.00 to $117.00 and set an “underweight” rating on the stock in a research report on Monday, July 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 target price (down from $190.00) on shares of Allegiant Travel in a research report on Thursday, July 26th. Finally, Cowen decreased their target price on Allegiant Travel from $166.00 to $142.00 and set a “market perform” rating on the stock in a research report on Thursday, July 26th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Allegiant Travel has a consensus rating of “Hold” and a consensus price target of $152.82.
NASDAQ:ALGT opened at $121.87 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $1.97 billion, a P/E ratio of 12.76, a PEG ratio of 0.57 and a beta of 0.30. Allegiant Travel has a 12 month low of $105.21 and a 12 month high of $181.45.
In other Allegiant Travel news, EVP Robert Paul Wilson III sold 380 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $135.01, for a total transaction of $51,303.80. Following the sale, the executive vice president now directly owns 17,816 shares in the company, valued at $2,405,338.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President John Redmond acquired 12,000 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were bought at an average price of $115.42 per share, for a total transaction of $1,385,040.00. Following the completion of the transaction, the president now owns 102,125 shares of the company’s stock, valued at $11,787,267.50. The disclosure for this purchase can be found here. Corporate insiders own 20.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC raised its position in Allegiant Travel by 42.8% during the third quarter. Riverhead Capital Management LLC now owns 2,001 shares of the transportation company’s stock valued at $254,000 after purchasing an additional 600 shares during the period. U S Global Investors Inc raised its holdings in shares of Allegiant Travel by 17.5% in the third quarter. U S Global Investors Inc now owns 31,395 shares of the transportation company’s stock worth $3,981,000 after buying an additional 4,680 shares during the period. Primecap Management Co. CA raised its holdings in shares of Allegiant Travel by 8.3% in the third quarter. Primecap Management Co. CA now owns 47,100 shares of the transportation company’s stock worth $5,972,000 after buying an additional 3,600 shares during the period. Allianz Asset Management GmbH purchased a new stake in shares of Allegiant Travel in the third quarter worth approximately $4,084,000. Finally, Royce & Associates LP raised its holdings in shares of Allegiant Travel by 20.1% in the third quarter. Royce & Associates LP now owns 223,913 shares of the transportation company’s stock worth $28,392,000 after buying an additional 37,505 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.
Allegiant Travel Company Profile
Allegiant Travel Company, a leisure travel company, focuses on the provision of travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited frequency nonstop flights between under-served cities and leisure destinations.
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