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

Allegiant Travel (NASDAQ:ALGTGet Free Report) has been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $96.57.

A number of equities research analysts recently weighed in on the company. Barclays dropped their price target on Allegiant Travel from $75.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, November 6th. StockNews.com cut Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Monday, November 6th. Morgan Stanley lowered their target price on Allegiant Travel from $100.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 7th. Susquehanna lowered their target price on Allegiant Travel from $80.00 to $76.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. Finally, Raymond James lowered their target price on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th.

Get Our Latest Research Report on Allegiant Travel

Allegiant Travel Price Performance

Allegiant Travel stock opened at $71.98 on Monday. The business has a 50 day simple moving average of $78.48 and a 200 day simple moving average of $77.02. Allegiant Travel has a one year low of $54.87 and a one year high of $130.93. The company has a market capitalization of $1.32 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.91 and a beta of 1.58. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.09 and a quick ratio of 1.05.

Allegiant Travel (NASDAQ:ALGTGet Free Report) last released its quarterly earnings results on Monday, February 5th. The transportation company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.52. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The firm had revenue of $611.00 million during the quarter, compared to analysts’ expectations of $596.42 million. During the same period last year, the firm posted $3.17 EPS. The business’s revenue was down .1% on a year-over-year basis. On average, sell-side analysts forecast that Allegiant Travel will post 6.8 EPS for the current fiscal year.

Allegiant Travel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were issued a dividend of $0.60 per share. The ex-dividend date was Wednesday, February 14th. This represents a $2.40 annualized dividend and a yield of 3.33%. Allegiant Travel’s dividend payout ratio is presently 37.97%.

Insiders Place Their Bets

In related news, Director Gary Ellmer sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $79.10, for a total transaction of $158,200.00. Following the sale, the director now owns 8,490 shares in the company, valued at $671,559. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE lifted its stake in shares of Allegiant Travel by 13.0% in the 1st quarter. US Bancorp DE now owns 1,158 shares of the transportation company’s stock valued at $188,000 after acquiring an additional 133 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Allegiant Travel by 20.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,522 shares of the transportation company’s stock valued at $410,000 after acquiring an additional 432 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Allegiant Travel by 4.9% in the 1st quarter. Citigroup Inc. now owns 20,574 shares of the transportation company’s stock worth $3,341,000 after purchasing an additional 959 shares in the last quarter. AlphaCrest Capital Management LLC bought a new position in shares of Allegiant Travel in the 1st quarter worth $390,000. Finally, Bank of Montreal Can grew its position in Allegiant Travel by 5.0% in the 1st quarter. Bank of Montreal Can now owns 4,774 shares of the transportation company’s stock valued at $771,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 81.23% of the company’s stock.

Allegiant Travel Company Profile

(Get Free Report

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, 2023, it operated a fleet of 122 Airbus A320 series aircraft.

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Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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