Allegiant Travel (NASDAQ:ALGT) Given New $50.00 Price Target at TD Cowen

Allegiant Travel (NASDAQ:ALGT - Get Free Report) had its price target raised by analysts at TD Cowen from $35.00 to $50.00 in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm currently has a "hold" rating on the transportation company's stock. TD Cowen's price objective points to a potential downside of 14.46% from the stock's current price.

Several other research firms have also issued reports on ALGT. Barclays cut their price target on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a research report on Thursday. The Goldman Sachs Group raised their price target on Allegiant Travel from $83.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Bank of America dropped their price target on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley boosted their target price on shares of Allegiant Travel from $90.00 to $95.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Finally, UBS Group cut their price objective on shares of Allegiant Travel from $61.00 to $45.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $63.20.

Allegiant Travel Stock Up 7.3%

NASDAQ:ALGT traded up $4.00 on Monday, hitting $58.45. The stock had a trading volume of 221,267 shares, compared to its average volume of 427,045. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57. The firm's fifty day simple moving average is $50.57 and its two-hundred day simple moving average is $72.97. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The stock has a market cap of $1.07 billion, a P/E ratio of -4.38 and a beta of 1.78.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.27. The company had revenue of $699.07 million for the quarter, compared to analyst estimates of $700.00 million. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Analysts predict that Allegiant Travel will post 7.7 earnings per share for the current year.

Hedge Funds Weigh In On Allegiant Travel

Hedge funds have recently bought and sold shares of the business. Signaturefd LLC grew its position in shares of Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock worth $56,000 after buying an additional 138 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of Allegiant Travel by 3.3% during the 4th quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company's stock valued at $584,000 after purchasing an additional 200 shares during the last quarter. Jones Financial Companies Lllp increased its holdings 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 valued at $43,000 after acquiring an additional 223 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock worth $64,000 after buying an additional 236 shares during the last quarter. Finally, Crews Bank & Trust purchased a new position in shares of Allegiant Travel in the fourth quarter worth about $25,000. Hedge funds and other institutional investors 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.

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