Allegiant Travel (NASDAQ:ALGT) Receives $59.50 Average PT from Brokerages

Allegiant Travel (NASDAQ:ALGT) has been assigned a consensus rating of “Hold” from the eight analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $59.50.

A number of analysts have issued reports on the company. Barclays decreased their price target on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and decreased their target price for the stock from $75.00 to $53.00 in a research report on Monday, July 8th. Susquehanna dropped their price target on shares of Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. TD Cowen decreased their price target on shares of Allegiant Travel from $39.00 to $33.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Finally, 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.

Insider Activity

In related news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $337,050. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC purchased a new stake in shares of Allegiant Travel during the 2nd quarter valued at about $34,000. CWM LLC raised its stake in shares of Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 930 shares during the period. SG Americas Securities LLC acquired a new position in shares of Allegiant Travel during the first quarter worth $141,000. Commerce Bank purchased a new position in shares of Allegiant Travel in the fourth quarter valued at $201,000. Finally, Headlands Technologies LLC grew its holdings in Allegiant Travel by 170.6% during the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 1,590 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $45.81 on Friday. The company has a 50-day simple moving average of $43.92 and a 200-day simple moving average of $52.95. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.74 and a quick ratio of 0.71. The company has a market cap of $835.21 million, a PE ratio of 14.50, a price-to-earnings-growth ratio of 5.50 and a beta of 1.64. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $85.91.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, topping the consensus estimate of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The firm had revenue of $666.28 million during the quarter, compared to analysts’ expectations of $657.74 million. During the same period in the previous year, the company earned $4.35 EPS. Allegiant Travel’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts anticipate that Allegiant Travel will post 0.96 earnings per share for the current year.

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.