Allegiant Travel (NASDAQ:ALGT) Price Target Cut to $61.00 by Analysts at UBS Group

Allegiant Travel (NASDAQ:ALGT) had its target price cut by UBS Group from $93.00 to $61.00 in a report released on Thursday,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other equities research analysts have also weighed in on ALGT. Raymond James increased their price objective on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, December 30th. Barclays raised their price target on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their price objective on Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Bank of America raised their target price on Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research note on Friday, January 17th. Finally, StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $84.60.

Allegiant Travel Trading Down 5.3 %

NASDAQ:ALGT opened at $53.03 on Thursday. Allegiant Travel has a 52 week low of $36.09 and a 52 week high of $107.57. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The company has a market cap of $972.46 million, a PE ratio of -3.97 and a beta of 1.64. The business’s 50 day moving average is $82.86 and its two-hundred day moving average is $73.49.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. On average, analysts predict that Allegiant Travel will post 7.7 EPS for the current year.

Institutional Trading of Allegiant Travel

A number of institutional investors have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC increased its stake in shares of Allegiant Travel by 5.1% during the third quarter. Segall Bryant & Hamill LLC now owns 103,508 shares of the transportation company’s stock valued at $5,699,000 after acquiring an additional 5,052 shares during the period. Intech Investment Management LLC acquired a new position in shares of Allegiant Travel during the 3rd quarter valued at $450,000. Landscape Capital Management L.L.C. bought a new stake in shares of Allegiant Travel in the 3rd quarter worth $6,193,000. Charles Schwab Investment Management Inc. boosted its stake in Allegiant Travel by 41.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock valued at $14,176,000 after buying an additional 75,486 shares in the last quarter. Finally, Algert Global LLC acquired a new position in Allegiant Travel during the third quarter worth about $579,000. 85.81% of the stock is owned by institutional investors and hedge funds.

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.