Allegiant Travel (NASDAQ:ALGT) PT Raised to $55.00

Allegiant Travel (NASDAQ:ALGT) had its price objective lifted by analysts at Susquehanna from $40.00 to $55.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s target price indicates a potential downside of 4.06% from the company’s previous close.

ALGT has been the topic of several other research reports. TD Cowen raised their target price on Allegiant Travel from $33.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, October 3rd. Morgan Stanley reduced 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 report on Monday, July 8th. Evercore ISI increased their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Barclays reduced their price target on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $75.00 to $53.00 in a report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel presently has an average rating of “Hold” and a consensus target price of $63.13.

Allegiant Travel Price Performance

ALGT opened at $57.33 on Wednesday. The stock’s 50-day moving average price is $44.64 and its 200 day moving average price is $51.58. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 6.10 and a beta of 1.65. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, topping 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 business had revenue of $666.28 million for the quarter, compared to analyst estimates of $657.74 million. During the same quarter in the prior year, the company earned $4.35 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Allegiant Travel will post 0.97 earnings per share for the current year.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now owns 7,490 shares in the company, valued at $337,050. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 1,699 shares of company stock worth $77,350. Company insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Allegiant Travel by 2.3% in the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock valued at $131,591,000 after acquiring an additional 38,612 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in Allegiant Travel by 1.9% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock worth $47,509,000 after purchasing an additional 17,792 shares during the period. Donald Smith & CO. Inc. raised its stake in shares of Allegiant Travel by 166.7% during the 2nd quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock worth $41,506,000 after buying an additional 516,545 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Allegiant Travel by 15.1% during the 2nd quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock worth $21,538,000 after buying an additional 56,208 shares in the last quarter. Finally, Par Capital Management Inc. lifted its holdings in shares of Allegiant Travel by 1.4% in the 4th quarter. Par Capital Management Inc. now owns 253,500 shares of the transportation company’s stock valued at $20,942,000 after buying an additional 3,500 shares during the period. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Company Profile

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.