Allegiant Travel (NASDAQ:ALGT) Price Target Increased to $42.00 by Analysts at TD Cowen

Allegiant Travel (NASDAQ:ALGT) had its target price hoisted by TD Cowen from $33.00 to $42.00 in a report released on Thursday morning, MarketBeat.com reports. The brokerage currently has a hold rating on the transportation company’s stock.

Several other brokerages also recently commented on ALGT. Susquehanna dropped their price objective on Allegiant Travel from $55.00 to $40.00 and set a neutral rating on the stock in a research note on Friday, August 16th. Barclays dropped their price objective 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. Evercore ISI dropped their price objective on Allegiant Travel from $85.00 to $60.00 and set an in-line rating on the stock in a research note on Monday, July 15th. Morgan Stanley dropped their price objective on Allegiant Travel from $95.00 to $87.00 and set an equal weight rating on the stock in a research note on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded 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 research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Allegiant Travel has a consensus rating of Hold and a consensus price target of $61.25.

Allegiant Travel Stock Down 0.1 %

NASDAQ:ALGT opened at $55.00 on Thursday. The stock’s fifty day moving average price is $44.19 and its two-hundred day moving average price is $52.02. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $85.91. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 6.10 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.93. The company had revenue of $666.28 million for the quarter, compared to the consensus estimate of $657.74 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.35 EPS. On average, analysts anticipate that Allegiant Travel will post 0.97 EPS for the current year.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the business’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 sale, the director now owns 7,490 shares of the company’s stock, valued at $337,050. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 17.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allegiant Travel

Institutional investors have recently made changes to their positions in the stock. Privium Fund Management UK Ltd grew its position in Allegiant Travel by 77.7% in the 4th quarter. Privium Fund Management UK Ltd now owns 10,539 shares of the transportation company’s stock worth $855,000 after purchasing an additional 4,607 shares in the last quarter. Par Capital Management Inc. lifted its stake in Allegiant Travel by 1.4% in the 4th quarter. Par Capital Management Inc. now owns 253,500 shares of the transportation company’s stock worth $20,942,000 after purchasing an additional 3,500 shares in the last quarter. 180 Wealth Advisors LLC lifted its stake in Allegiant Travel by 5.7% in the 1st quarter. 180 Wealth Advisors LLC now owns 7,291 shares of the transportation company’s stock worth $548,000 after purchasing an additional 392 shares in the last quarter. SeaCrest Wealth Management LLC lifted its stake in Allegiant Travel by 39.8% in the 1st quarter. SeaCrest Wealth Management LLC now owns 5,025 shares of the transportation company’s stock worth $378,000 after purchasing an additional 1,430 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Allegiant Travel by 369.1% during the 1st quarter. BNP Paribas Financial Markets now owns 23,874 shares of the transportation company’s stock valued at $1,796,000 after buying an additional 18,785 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.