Allegiant Travel (NASDAQ:ALGT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Allegiant Travel (NASDAQ:ALGT) have received an average recommendation of “Hold” from the eight research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $63.13.

A number of analysts recently commented on ALGT shares. Evercore ISI raised their price target on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. TD Cowen lifted their target price on shares of Allegiant Travel from $33.00 to $42.00 and gave the company a “hold” rating in a research note on Thursday, October 3rd. Barclays decreased 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 note on Wednesday, July 10th. Morgan Stanley cut their price objective on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Finally, Susquehanna increased their target price on Allegiant Travel from $40.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th.

Allegiant Travel Price Performance

ALGT stock opened at $65.67 on Tuesday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 3.11 and a beta of 1.65. The firm’s 50-day moving average price is $47.03 and its two-hundred day moving average price is $50.94. 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 has a 12-month low of $36.08 and a 12-month high of $85.91.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly 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. 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%. Allegiant Travel’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.35 EPS. As a group, equities analysts predict that Allegiant Travel will post 1.47 earnings per share for the current year.

Insider Activity

In related news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares of the company’s stock, valued at $337,050. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 1,699 shares of company stock worth $77,350. Insiders own 17.50% of the company’s stock.

Institutional Trading of Allegiant Travel

Several institutional investors have recently bought and sold shares of ALGT. Donald Smith & CO. Inc. boosted its position in shares of Allegiant Travel by 166.7% during the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after buying an additional 516,545 shares during the last quarter. Clearbridge Investments LLC bought a new stake in shares of Allegiant Travel in the second quarter worth approximately $8,959,000. Millennium Management LLC grew its stake in shares of Allegiant Travel by 779.8% in the second quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock worth $8,512,000 after acquiring an additional 150,197 shares during the period. RK Asset Management LLC bought a new stake in shares of Allegiant Travel in the third quarter worth approximately $5,307,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Allegiant Travel during the second quarter valued at approximately $4,263,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

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.