Allegiant Travel Company (NASDAQ:ALGT) Receives $64.33 Consensus Target Price from Analysts

Key Points

• Allegiant Travel Company has received an average analyst rating of "Hold" from ten ratings firms, with one sell, seven hold, one buy, and one strong buy recommendation.
• The company's stock price has a 12-month average target of $64.33, with recent price changes from various analysts, including a boost from TD Cowen and a reduction from Bank of America.
• Allegiant Travel reported $1.23 EPS for the last quarter, exceeding estimates and demonstrating a 3.5% revenue increase year-over-year.

Allegiant Travel Company (NASDAQ:ALGT - Get Free Report) has earned a consensus recommendation of "Hold" from the eleven analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $64.3333.

ALGT has been the topic of a number of recent research reports. Evercore ISI raised Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 target price on the stock in a research note on Tuesday, July 1st. Susquehanna restated a "neutral" rating and issued a $50.00 target price (up from $45.00) on shares of Allegiant Travel in a report on Tuesday, August 5th. Morgan Stanley lowered their price target on shares of Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. Zacks Research raised shares of Allegiant Travel from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 4th. Finally, Bank of America decreased their target price on shares of 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 Price Performance

Shares of NASDAQ:ALGT traded up $2.19 during midday trading on Friday, hitting $62.95. 424,854 shares of the stock were exchanged, compared to its average volume of 378,494. Allegiant Travel has a twelve month low of $39.31 and a twelve 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. The company has a 50 day moving average price of $56.15 and a 200-day moving average price of $54.76. The stock has a market cap of $1.16 billion, a P/E ratio of -3.95, a PEG ratio of 0.55 and a beta of 1.71.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its 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 negative net margin of 11.10% and a positive return on equity of 5.00%. The firm had revenue of $689.40 million during the quarter, compared to the consensus estimate of $685.58 million. During the same period last year, the firm posted $0.75 EPS. The firm's revenue for the quarter 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, research analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current year.

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently added to or reduced their stakes in ALGT. Raymond James Financial Inc. purchased a new stake in Allegiant Travel in the 4th quarter valued at about $383,000. Northern Trust Corp boosted its position in shares of Allegiant Travel by 8.3% in the fourth quarter. Northern Trust Corp now owns 154,282 shares of the transportation company's stock worth $14,521,000 after acquiring an additional 11,864 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Allegiant Travel by 137.7% in the fourth quarter. Ameriprise Financial Inc. now owns 120,470 shares of the transportation company's stock valued at $11,339,000 after purchasing an additional 69,786 shares during the period. Concentric Capital Strategies LP acquired a new position in Allegiant Travel during the fourth quarter worth approximately $1,679,000. Finally, Deutsche Bank AG raised its stake in Allegiant Travel by 209.6% during the fourth quarter. Deutsche Bank AG now owns 26,573 shares of the transportation company's stock worth $2,501,000 after purchasing an additional 17,991 shares during the period. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

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.