Allegiant Travel Company (NASDAQ:ALGT) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Allegiant Travel Company (NASDAQ:ALGT) has received an average recommendation of "Hold" from analysts, with one sell rating, eight hold ratings, one buy rating, and one strong buy rating among eleven analysts.
• The average 12-month price objective for Allegiant Travel's stock is $66.89, with recent target price changes ranging from a low of $45.00 to a high of $85.00 by various analysts.
• Allegiant Travel reported earnings per share of $1.23 for the last quarter, exceeding expectations, and its revenue increased by 3.5% year-over-year to $689.40 million.

Allegiant Travel Company (NASDAQ:ALGT - Get Free Report) has earned a consensus recommendation of "Hold" from the eleven analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $66.8889.

Several equities analysts recently weighed in on the company. Morgan Stanley reduced their target price on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Evercore ISI boosted their target price on shares of Allegiant Travel from $75.00 to $85.00 and gave the company an "outperform" rating in a report on Monday. Susquehanna reaffirmed a "neutral" rating and set a $50.00 price target (up previously from $45.00) on shares of Allegiant Travel in a research note on Tuesday, August 5th. Zacks Research upgraded shares of Allegiant Travel from a "strong sell" rating to a "hold" rating in a report on Thursday, September 4th. Finally, Bank of America dropped their price objective on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating for the company in a report on Tuesday, July 8th.

Hedge Funds Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently modified their holdings of ALGT. Donald Smith & CO. Inc. raised its holdings in Allegiant Travel by 32.6% in the first quarter. Donald Smith & CO. Inc. now owns 1,350,447 shares of the transportation company's stock valued at $69,751,000 after buying an additional 331,998 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Allegiant Travel in the first quarter worth $9,864,000. MetLife Investment Management LLC raised its stake 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 valued at $8,248,000 after acquiring an additional 150,412 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Allegiant Travel by 40.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 389,832 shares of the transportation company's stock valued at $20,135,000 after acquiring an additional 112,875 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in Allegiant Travel by 2,953.5% during the 1st quarter. Cubist Systematic Strategies LLC now owns 108,433 shares of the transportation company's stock worth $5,601,000 after purchasing an additional 112,233 shares during the period. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Stock Performance

Shares of ALGT opened at $62.77 on Tuesday. Allegiant Travel has a 1 year low of $39.80 and a 1 year high of $107.57. The company's 50 day simple moving average is $58.09 and its 200 day simple moving average is $54.31. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -3.94, a PEG ratio of 0.55 and a beta of 1.71. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.40. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%.The company had revenue of $689.40 million during the quarter, compared to the consensus estimate of $685.58 million. During the same period in the previous year, the firm posted $0.75 EPS. Allegiant Travel's revenue was up 3.5% on a year-over-year basis. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. On average, sell-side analysts predict that Allegiant Travel will post 7.7 EPS for the current 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.

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