UBS Group started coverage on shares of Allegiant Travel (NASDAQ:ALGT - Free Report) in a report published on Monday morning, Marketbeat reports. The firm issued a neutral rating and a $59.00 target price on the transportation company's stock.
Several other research analysts have also recently weighed in on ALGT. Evercore ISI upgraded shares of 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. Susquehanna dropped their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. TD Cowen boosted their price objective 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. Bank of America dropped their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Finally, Morgan Stanley dropped their price objective on shares of Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Allegiant Travel currently has an average rating of "Hold" and a consensus price target of $64.40.
Read Our Latest Stock Report on Allegiant Travel
Allegiant Travel Price Performance
Shares of NASDAQ:ALGT traded down $4.88 during trading on Monday, reaching $55.41. The stock had a trading volume of 687,231 shares, compared to its average volume of 429,084. Allegiant Travel has a 52 week low of $36.09 and a 52 week high of $107.57. The business's 50-day moving average price is $54.11 and its 200 day moving average price is $67.11. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.90 and a quick ratio of 0.87. The stock has a market capitalization of $1.01 billion, a PE ratio of -4.79, a P/E/G ratio of 0.44 and a beta of 1.71.
Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $699.07 million during the quarter, compared to analysts' expectations of $700.00 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. Allegiant Travel's quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that Allegiant Travel will post 7.7 earnings per share for the current year.
Institutional Trading of Allegiant Travel
A number of institutional investors have recently bought and sold shares of the business. Donald Smith & CO. Inc. grew 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 buying an additional 331,998 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Allegiant Travel during the 4th quarter worth about $26,067,000. Emerald Advisers LLC bought a new stake in Allegiant Travel during the 4th quarter worth about $22,256,000. Federated Hermes Inc. bought a new stake in shares of Allegiant Travel in the 1st quarter valued at about $9,864,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Allegiant Travel in the 4th quarter valued at about $16,713,000. Institutional investors and hedge funds own 85.81% of the company's stock.
About Allegiant Travel
(
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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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