Allegiant Travel (NASDAQ:ALGT) Receives $77.57 Consensus Target Price from Brokerages

Allegiant Travel (NASDAQ:ALGT) has been given an average recommendation of “Hold” by the eight analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $72.25.

A number of research analysts recently commented on ALGT shares. Barclays dropped their target price on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday. UBS Group started coverage on shares of Allegiant Travel in a research report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 target price on the stock. Morgan Stanley dropped their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday. TD Cowen dropped their target price on shares of Allegiant Travel from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Wednesday, May 15th. Finally, Susquehanna decreased their price target on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th.

Insider Transactions at Allegiant Travel

In other news, EVP Robert Paul Wilson III sold 750 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total value of $39,750.00. Following the completion of the sale, the executive vice president now owns 74,948 shares in the company, valued at approximately $3,972,244. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Robert Paul Wilson III sold 750 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total value of $39,750.00. Following the completion of the sale, the executive vice president now owns 74,948 shares in the company, valued at approximately $3,972,244. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Scott Wayne Deangelo sold 19,687 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the completion of the sale, the chief marketing officer now owns 64,812 shares of the company’s stock, valued at approximately $3,479,108.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,037 shares of company stock worth $1,395,948. Company insiders own 17.50% of the company’s stock.

Institutional Trading of Allegiant Travel

Several hedge funds and other institutional investors have recently made changes to their positions in ALGT. Invesco Ltd. lifted its stake in shares of Allegiant Travel by 17.3% in the third quarter. Invesco Ltd. now owns 80,583 shares of the transportation company’s stock valued at $6,194,000 after purchasing an additional 11,858 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Allegiant Travel by 361.1% in the third quarter. Tower Research Capital LLC TRC now owns 4,316 shares of the transportation company’s stock valued at $332,000 after purchasing an additional 3,380 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of Allegiant Travel in the third quarter valued at about $1,177,000. GSA Capital Partners LLP acquired a new stake in shares of Allegiant Travel in the third quarter valued at about $1,404,000. Finally, Graham Capital Management L.P. acquired a new stake in shares of Allegiant Travel in the third quarter valued at about $671,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Trading Up 3.8 %

Shares of NASDAQ:ALGT opened at $49.09 on Friday. Allegiant Travel has a 52 week low of $43.91 and a 52 week high of $130.93. The company’s 50 day moving average is $51.65 and its two-hundred day moving average is $65.41. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.35. The company has a market cap of $895.01 million, a PE ratio of 15.53, a P/E/G ratio of 1.22 and a beta of 1.66.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $656.70 million for the quarter, compared to the consensus estimate of $645.23 million. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.04 EPS. Equities analysts predict that Allegiant Travel will post 3.62 earnings per share for the current fiscal year.

Allegiant Travel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Tuesday, May 14th. Allegiant Travel’s dividend payout ratio is currently 75.95%.

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.