Allegiant Travel Company (NASDAQ:ALGT) Given Average Recommendation of "Hold" by Analysts

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 been assigned a consensus rating of "Hold" from the ten research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $64.3333.

A number of research firms have recently commented on ALGT. TD Cowen upped their target price on Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research note on Monday, May 12th. UBS Group lowered their target price on Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Morgan Stanley lowered their target price on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. Raymond James Financial reiterated a "strong-buy" rating and set a $80.00 price objective (down previously from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. Finally, Barclays decreased their price objective on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th.

Allegiant Travel Trading Down 2.9%

NASDAQ ALGT traded down $1.76 on Monday, hitting $59.55. The company's stock had a trading volume of 198,159 shares, compared to its average volume of 448,540. The firm has a market cap of $1.09 billion, a P/E ratio of -3.74, a PEG ratio of 0.52 and a beta of 1.72. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 1.68. The company's 50-day simple moving average is $53.46 and its 200 day simple moving average is $58.89. Allegiant Travel has a 52-week low of $37.50 and a 52-week high of $107.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.40. The firm 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%. The company's revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. Research analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds have recently made changes to their positions in ALGT. Donald Smith & CO. Inc. boosted its holdings in shares of 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 valued at $69,751,000 after purchasing an additional 331,998 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Allegiant Travel in the 4th quarter worth about $26,067,000. Federated Hermes Inc. bought a new stake in shares of Allegiant Travel in the 1st quarter worth about $9,864,000. Voloridge Investment Management LLC bought a new stake in shares of Allegiant Travel in the 4th quarter worth about $16,713,000. Finally, MetLife Investment Management LLC increased its position in shares of 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 during the last quarter. Institutional investors and hedge funds 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.