Allegiant Travel Company (NASDAQ:ALGT) Receives $65.11 Average PT from Analysts

Shares of Allegiant Travel Company (NASDAQ:ALGT - Get Free Report) have been given a consensus recommendation of "Hold" by the ten analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $65.11.

ALGT has been the subject of a number of research analyst reports. TD Cowen boosted their target price on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Barclays dropped their price objective on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Evercore ISI upgraded shares of Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price objective on the stock in a report on Tuesday, July 1st. Raymond James Financial restated 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, UBS Group assumed coverage on shares of Allegiant Travel in a research note on Monday, July 7th. They issued a "neutral" rating and a $59.00 target price on the stock.

Institutional Trading of Allegiant Travel

A number of hedge funds have recently modified their holdings of ALGT. Jones Financial Companies Lllp raised its stake in Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock worth $43,000 after purchasing an additional 223 shares in the last quarter. Raymond James Financial Inc. bought a new position in Allegiant Travel in the 4th quarter valued at about $383,000. Amundi increased its holdings in Allegiant Travel by 168.3% in the 4th quarter. Amundi now owns 7,010 shares of the transportation company's stock valued at $696,000 after buying an additional 4,397 shares during the period. Commonwealth Equity Services LLC bought a new position in Allegiant Travel in the 4th quarter valued at about $270,000. Finally, Signaturefd LLC increased its holdings in Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Stock Performance

Shares of ALGT traded down $0.61 during mid-day trading on Thursday, reaching $51.69. 300,420 shares of the company's stock traded hands, compared to its average volume of 421,408. Allegiant Travel has a 12 month low of $36.09 and a 12 month high of $107.57. The stock has a market capitalization of $943.60 million, a P/E ratio of -4.47, a price-to-earnings-growth ratio of 0.43 and a beta of 1.71. The business's 50-day moving average price is $54.93 and its 200-day moving average price is $64.72. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.87 and a current ratio of 0.90.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.27. Allegiant Travel had a negative net margin of 8.11% and a positive return on equity of 5.46%. The firm had revenue of $699.07 million for the quarter, compared to analysts' expectations of $700.00 million. During the same period in the previous year, the company posted $0.57 EPS. The company's quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts predict that Allegiant Travel will post 7.7 earnings per share for the current year.

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.