Allegiant Travel Co. (ALGT) Stock Trending Up After Price Target Increase at Imperial Capital

Allegiant Travel Co. (NASDAQ: ALGT) shares rose on Tuesday Nov 22 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.

Meanwhile, The Dow Jones Industrial Average opened opened higher, trading above 19,000 for the first time ever, while the S&P 500 traded above 2,200 shortly after the opening bell on Tuesday.

The S&P 500 SPX, +0.17% opened 5 points, or 0.2%, higher at 2,202. The Dow Jones Industrial Average DJIA, +0.20% added 45 points, or 0.2%, to 19,002. The Nasdaq Composite COMP, +0.25% began the session up 16 points, or 0.3%, at 5,385.

Allegiant Travel Co. (NASDAQ: ALGT) had its price target boosted by equities researchers at Imperial Capital from $160.00 to $196.00. With a rating of Outperform on the shares, Allegiant Travel Co. has a 52-week high of $204.46. The one-year price target of $165.09 is above the opening price of $164.00, that has caused a fair amount of other analysts to report on the stock recently.

Shares of Allegiant Travel Co. (NASDAQ: ALGT) opened at $164.00 on Tuesday trading between $164.00 and $165.55, and last traded at $165.40, which is an increase of $1.65 or 1.01% compared to the previous closing price.

Allegiant Travel Co. (NASDAQ: ALGT) currently has a market cap of 2.71B.

Allegiant Travel Co. (NASDAQ: ALGT) Average Daily Trading Volume

8,576 shares crossed the trading desk yesterday, lower than normal, out of a total float 11,698,000. Momentum traders often use swings in trading volume to identify heavy volume growth or distribution by institutional investors, so look for trading volume to pick up in the coming days.

While an increase in trading for short periods will not mean much, however, a trend of heavy trading volume on the buy side over a series of days or weeks expresses a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is critical.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Institutional investors such as these have teams of analysts that investigate thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.

Allegiant Travel Co. (NASDAQ: ALGT) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.

With that in mind, Allegiant Travel Co. (NASDAQ: ALGT) now has a 50-day MA of $148.70 and 200-day MA of $141.47. It has traded in a 52-week range between $121.70 – 204.46 and today’s last price is 19.10%% lower than the 52 week high of $204.46.

Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have grown their earnings by at least 25% over the past 3 years.

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