Allegiant Travel (NASDAQ:ALGT) Given New $55.00 Price Target at Bank of America

Key Points

• Bank of America has raised the price target for Allegiant Travel (NASDAQ:ALGT) from $50.00 to $55.00, indicating a potential downside of 9.78% from the current price.
• The company's stock is currently rated as "underperform" by Bank of America, while other analysts have mixed ratings, with a consensus rating of "Hold" and an average price target of $68.00.
• Allegiant Travel reported a quarterly EPS of $1.23, surpassing expectations, with revenue rising 3.5% year-over-year to $689.4 million.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) had its target price upped by investment analysts at Bank of America from $50.00 to $55.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "underperform" rating on the transportation company's stock. Bank of America's price objective indicates a potential downside of 9.78% from the stock's current price.

ALGT has been the topic of a number of other reports. Susquehanna reissued a "neutral" rating and set a $50.00 target price (up from $45.00) on shares of Allegiant Travel in a report on Tuesday, August 5th. Evercore ISI lifted their target price on shares of Allegiant Travel from $75.00 to $85.00 and gave the stock an "outperform" rating in a report on Monday. Morgan Stanley lowered their price target on shares of Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Zacks Research raised Allegiant Travel from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. Finally, UBS Group increased their target price on Allegiant Travel from $52.00 to $65.00 and gave the stock a "neutral" rating in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $68.00.

Allegiant Travel Stock Up 0.3%

Shares of ALGT traded up $0.19 during mid-day trading on Wednesday, hitting $60.96. 24,102 shares of the company's stock were exchanged, compared to its average volume of 432,769. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.07. Allegiant Travel has a 52 week low of $39.80 and a 52 week high of $107.57. The company has a market cap of $1.12 billion, a PE ratio of -3.80, a P/E/G ratio of 0.57 and a beta of 1.71. The company has a 50-day simple moving average of $58.26 and a 200 day simple moving average of $54.36.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The transportation company reported $1.23 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $685.58 million. During the same period in the previous year, the firm posted $0.75 EPS. The company'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 fiscal year.

Hedge Funds Weigh In On Allegiant Travel

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC increased its stake in Allegiant Travel by 489.1% in the first quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock valued at $28,000 after purchasing an additional 450 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Allegiant Travel by 28.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company's stock valued at $51,000 after purchasing an additional 205 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Allegiant Travel by 376.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company's stock worth $53,000 after purchasing an additional 817 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Allegiant Travel by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,108 shares of the transportation company's stock valued at $61,000 after buying an additional 407 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Allegiant Travel by 43.7% in the second quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company's stock worth $67,000 after purchasing an additional 373 shares in the last quarter. 85.81% of the stock is currently owned by 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.

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