Allegiant Travel Company (NASDAQ:ALGT) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Allegiant Travel Company has an average brokerage rating of "Hold", with one sell rating, seven hold ratings, one buy rating, and one strong buy rating among the ten covering brokerages.
• The company's shares currently trade at $48.94, with a 12-month average target price of $64.33 set by analysts.
• In its most recent earnings report, Allegiant Travel exceeded expectations with $1.23 EPS on revenue of $689.4 million, marking a year-over-year revenue increase of 3.5%.

Allegiant Travel Company (NASDAQ:ALGT - Get Free Report) has earned a consensus rating of "Hold" from the ten ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $64.3333.

A number of analysts have recently weighed in on the company. Evercore ISI raised Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price objective for the company in a research report on Tuesday, July 1st. Barclays reduced their target price on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. UBS Group reduced their target price on Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $80.00 target price (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. Finally, Bank of America reduced their target price on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a research report on Tuesday, July 8th.

Allegiant Travel Trading Up 7.5%

Shares of ALGT stock traded up $4.24 during trading hours on Monday, reaching $61.00. 483,263 shares of the stock were exchanged, compared to its average volume of 448,102. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -3.83, a price-to-earnings-growth ratio of 0.45 and a beta of 1.72. The company's 50-day moving average price is $53.36 and its 200-day moving average price is $58.87. Allegiant Travel has a 12-month low of $36.31 and a 12-month high of $107.57. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 1.68.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.40. The company had revenue of $689.40 million during the quarter, compared to analysts' expectations of $685.58 million. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%. Allegiant Travel's revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. As a group, equities analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current year.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds have recently bought and sold shares of ALGT. Donald Smith & CO. Inc. boosted its position in Allegiant Travel by 32.6% in the 1st quarter. Donald Smith & CO. Inc. now owns 1,350,447 shares of the transportation company's stock worth $69,751,000 after purchasing an additional 331,998 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Allegiant Travel in the 4th quarter worth approximately $26,067,000. Federated Hermes Inc. purchased a new stake in Allegiant Travel in the 1st quarter worth approximately $9,864,000. Voloridge Investment Management LLC purchased a new stake in Allegiant Travel in the 4th quarter worth approximately $16,713,000. Finally, MetLife Investment Management LLC boosted its position in Allegiant Travel by 1,621.0% in the 1st quarter. MetLife Investment Management LLC now owns 159,691 shares of the transportation company's stock worth $8,248,000 after purchasing an additional 150,412 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company's stock.

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.