Allegiant Travel (NASDAQ:ALGT) PT Raised to $55.00

Allegiant Travel (NASDAQ:ALGT) had its price objective hoisted by Susquehanna from $40.00 to $55.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Several other analysts have also recently issued reports on ALGT. Barclays reduced 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 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. Deutsche Bank Aktiengesellschaft downgraded 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 note on Monday, July 8th. 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 report on Thursday, October 3rd. Finally, Morgan Stanley cut their price objective on Allegiant Travel from $95.00 to $87.00 and set an equal weight rating for the company in a research report on Monday, July 8th. Two 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.com, Allegiant Travel has an average rating of Hold and a consensus target price of $63.13.

Allegiant Travel Stock Performance

ALGT opened at $58.37 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.74 and a quick ratio of 0.71. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $85.91. The firm has a fifty day moving average price of $44.93 and a 200 day moving average price of $51.48. The stock has a market cap of $1.07 billion, a P/E ratio of -65.58, a P/E/G ratio of 3.11 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.93. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The business had revenue of $666.28 million for the quarter, compared to analysts’ expectations of $657.74 million. During the same period in the previous year, the firm posted $4.35 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts anticipate that Allegiant Travel will post 1.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gary Ellmer sold 1,000 shares of the 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 sale, the director now directly owns 7,490 shares in the company, valued at approximately $337,050. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,699 shares of company stock valued at $77,350 in the last quarter. Insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently made changes to their positions in the business. ProShare Advisors LLC grew its stake in Allegiant Travel by 6.9% during the 1st quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock valued at $237,000 after acquiring an additional 203 shares in the last quarter. 180 Wealth Advisors LLC boosted its stake in Allegiant Travel by 5.7% during the first quarter. 180 Wealth Advisors LLC now owns 7,291 shares of the transportation company’s stock worth $548,000 after buying an additional 392 shares in the last quarter. Privium Fund Management UK Ltd lifted its stake in Allegiant Travel by 4.5% during the second quarter. Privium Fund Management UK Ltd now owns 10,191 shares of the transportation company’s stock worth $504,000 after purchasing an additional 438 shares during the period. SeaCrest Wealth Management LLC grew its position in Allegiant Travel by 10.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,560 shares of the transportation company’s stock valued at $279,000 after acquiring an additional 535 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Allegiant Travel by 7.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock valued at $381,000 after purchasing an additional 553 shares during the last quarter. Institutional investors own 85.81% of the company’s stock.

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.