Allegiant Travel (NASDAQ:ALGT) Receives Average Rating of “Hold” from Analysts

Allegiant Travel (NASDAQ:ALGT) has been given a consensus rating of “Hold” by the eight analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $59.50.

A number of brokerages recently commented on ALGT. TD Cowen lowered their target price on Allegiant Travel from $39.00 to $33.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Morgan Stanley lowered their price objective on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Susquehanna dropped their price objective on shares of Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and reduced their target price for the stock from $75.00 to $53.00 in a report on Monday, July 8th. Finally, Evercore ISI dropped their price target on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a research note on Monday, July 15th.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $44.78 on Monday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.74 and a current ratio of 0.76. The firm has a market cap of $816.43 million, a P/E ratio of 14.17, a P/E/G ratio of 2.06 and a beta of 1.66. The firm’s 50 day moving average price is $47.14 and its 200-day moving average price is $57.92. Allegiant Travel has a one year low of $36.08 and a one year high of $94.07.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.93. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The company had revenue of $666.28 million for the quarter, compared to analyst estimates of $657.74 million. During the same quarter in the previous year, the company earned $4.35 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities research analysts predict that Allegiant Travel will post 3.08 EPS for the current year.

Insider Activity at Allegiant Travel

In other news, EVP Robert Paul Wilson III sold 750 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total transaction of $39,750.00. Following the completion of the transaction, the executive vice president now directly owns 74,948 shares of the company’s stock, valued at approximately $3,972,244. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Robert Paul Wilson III sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total transaction of $39,750.00. Following the completion of the sale, the executive vice president now owns 74,948 shares in the company, valued at $3,972,244. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Keny Frank Wilper sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.00, for a total transaction of $51,000.00. Following the completion of the transaction, the chief operating officer now owns 9,422 shares in the company, valued at $480,522. The disclosure for this sale can be found here. Insiders have sold 2,153 shares of company stock valued at $106,536 over the last quarter. 17.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Allegiant Travel

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Interval Partners LP acquired a new stake in shares of Allegiant Travel during the first quarter worth about $5,641,000. Franklin Resources Inc. grew its stake in Allegiant Travel by 15.4% during the 4th quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock worth $51,233,000 after buying an additional 82,813 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Allegiant Travel during the first quarter worth approximately $1,306,000. First Eagle Investment Management LLC lifted its stake in Allegiant Travel by 57.5% in the first quarter. First Eagle Investment Management LLC now owns 103,513 shares of the transportation company’s stock valued at $7,785,000 after buying an additional 37,800 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Allegiant Travel by 369.1% in the first quarter. BNP Paribas Financial Markets now owns 23,874 shares of the transportation company’s stock valued at $1,796,000 after acquiring an additional 18,785 shares during the period. 85.81% of the stock is currently owned by institutional investors and hedge funds.

About Allegiant Travel

Allegiant Travel Company, a leisure travel company, provides 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. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.