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

Allegiant Travel (NASDAQ:ALGT - Get Free Report) has been assigned an average recommendation of "Hold" from the eleven brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $63.70.

A number of brokerages have recently weighed in on ALGT. TD Cowen lifted their price objective on Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Barclays reduced 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. Susquehanna lowered their target price on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. UBS Group lifted their target price on shares of Allegiant Travel from $45.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley dropped their price target on Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th.

Allegiant Travel Stock Performance

Allegiant Travel stock traded down $0.82 during mid-day trading on Wednesday, reaching $55.69. The company's stock had a trading volume of 409,787 shares, compared to its average volume of 430,551. The firm's fifty day moving average price is $50.23 and its two-hundred day moving average price is $71.89. Allegiant Travel has a 12-month low of $36.09 and a 12-month high of $107.57. The company has a market capitalization of $1.02 billion, a P/E ratio of -4.17 and a beta of 1.78. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

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 for the quarter, topping analysts' consensus estimates of $1.54 by $0.27. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. The business had revenue of $699.07 million for the quarter, compared to analyst estimates of $700.00 million. During the same quarter in the prior year, the firm posted $0.57 EPS. Allegiant Travel's revenue was up 6.5% on a year-over-year basis. Sell-side analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Signaturefd LLC boosted its stake in Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after purchasing an additional 138 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Allegiant Travel by 94.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock worth $43,000 after buying an additional 223 shares during the period. Crews Bank & Trust bought a new position in Allegiant Travel in the 4th quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Allegiant Travel by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,808 shares of the transportation company's stock valued at $829,000 after acquiring an additional 292 shares during the period. Finally, Picton Mahoney Asset Management raised its stake in Allegiant Travel by 6.6% during the 1st quarter. Picton Mahoney Asset Management now owns 5,550 shares of the transportation company's stock valued at $286,000 after acquiring an additional 344 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.

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.