Allegiant Travel (NASDAQ:ALGT) Hits New 1-Year High – Here’s Why

Allegiant Travel Company (NASDAQ:ALGT) reached a new 52-week high on Tuesday . The stock traded as high as $118.00 and last traded at $113.93, with a volume of 777021 shares changing hands. The stock had previously closed at $114.79.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ALGT shares. Weiss Ratings reissued a “sell (d)” rating on shares of Allegiant Travel in a research note on Wednesday, January 21st. Bank of America raised shares of Allegiant Travel from an “underperform” rating to a “neutral” rating and raised their price target for the company from $55.00 to $95.00 in a research report on Tuesday, January 6th. Zacks Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Raymond James Financial cut Allegiant Travel from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $78.00 to $98.00 in a research note on Friday, December 19th. Finally, Wolfe Research upgraded Allegiant Travel from a “peer perform” rating to an “outperform” rating and set a $108.00 target price for the company in a report on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $100.18.

Allegiant Travel Trading Down 0.7%

The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.95 and a current ratio of 0.98. The company’s 50-day moving average price is $88.51 and its 200-day moving average price is $71.28. The firm has a market capitalization of $2.09 billion, a PE ratio of -44.33, a PEG ratio of 0.26 and a beta of 1.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Allegiant Travel by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,677,608 shares of the transportation company’s stock valued at $101,948,000 after acquiring an additional 66,596 shares during the last quarter. Donald Smith & CO. Inc. increased 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 purchasing an additional 156,186 shares during the last quarter. American Century Companies Inc. increased its stake in Allegiant Travel by 5.7% in the third 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 during the last quarter. Par Capital Management Inc. raised its holdings in Allegiant Travel by 11.1% during the second quarter. Par Capital Management Inc. now owns 584,996 shares of the transportation company’s stock worth $32,146,000 after purchasing an additional 58,566 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Allegiant Travel by 15.4% during the 3rd quarter. Franklin Resources Inc. now owns 549,287 shares of the transportation company’s stock worth $33,380,000 after buying an additional 73,360 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

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.