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

Shares of Allegiant Travel (NASDAQ:ALGT) have earned an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $59.50.

ALGT has been the subject of a number of research analyst reports. Evercore ISI lowered their price target on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a report on Monday, July 15th. Morgan Stanley reduced their price target 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, July 8th. Susquehanna lowered their price objective on shares of Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and cut their target price for the stock from $75.00 to $53.00 in a report on Monday, July 8th. Finally, Barclays lowered their target price on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th.

Insider Buying and Selling

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 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 in the company, valued at approximately $337,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.50% of the company’s stock.

Institutional Trading of Allegiant Travel

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC increased its stake in shares of Allegiant Travel by 6.9% during the first 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 during the period. 180 Wealth Advisors LLC raised its stake in shares of 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 buying an additional 392 shares in the last quarter. Privium Fund Management UK Ltd lifted its holdings in shares of Allegiant Travel by 4.5% in the second quarter. Privium Fund Management UK Ltd now owns 10,191 shares of the transportation company’s stock valued at $504,000 after buying an additional 438 shares during the period. SeaCrest Wealth Management LLC boosted its stake in Allegiant Travel by 10.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,560 shares of the transportation company’s stock valued at $279,000 after buying an additional 535 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in Allegiant Travel by 7.9% during the second quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock worth $381,000 after acquiring an additional 553 shares during the period. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Trading Up 5.8 %

ALGT opened at $49.76 on Friday. The stock has a market capitalization of $910.61 million, a PE ratio of 15.75, a P/E/G ratio of 6.10 and a beta of 1.64. 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 12-month low of $36.08 and a 12-month high of $85.91. The firm’s fifty day moving average price is $43.66 and its 200 day moving average price is $52.54.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, topping the consensus estimate of $0.84 by $0.93. The business had revenue of $666.28 million for the quarter, compared to analysts’ expectations of $657.74 million. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $4.35 earnings per share. As a group, research analysts expect that Allegiant Travel will post 0.97 EPS for the current fiscal year.

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.