Allegiant Travel (NASDAQ:ALGT) Price Target Cut to $83.00 by Analysts at Morgan Stanley

Allegiant Travel (NASDAQ:ALGT - Get Free Report) had its target price reduced by stock analysts at Morgan Stanley from $85.00 to $83.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the transportation company's stock. Morgan Stanley's price objective indicates a potential upside of 41.66% from the company's current price.

ALGT has been the topic of a number of other research reports. 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 report on Monday, April 7th. Barclays reduced their price objective 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, May 8th. Evercore ISI raised 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. TD Cowen upped 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. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $80.00 price objective (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $65.11.

Allegiant Travel Trading Up 11.0%

Shares of NASDAQ:ALGT traded up $5.81 during mid-day trading on Monday, reaching $58.59. 730,903 shares of the company's stock were exchanged, compared to its average volume of 426,212. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -5.06, a PEG ratio of 0.41 and a beta of 1.71. The business's fifty day moving average price is $54.79 and its 200-day moving average price is $66.52. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.87 and a current ratio of 0.90. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its 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. Allegiant Travel had a negative net margin of 8.11% and a positive return on equity of 5.46%. 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 previous year, the business earned $0.57 earnings per share. Allegiant Travel's revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Allegiant Travel during the 1st quarter valued at approximately $597,000. Russell Investments Group Ltd. lifted its position in Allegiant Travel by 1,486.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company's stock valued at $179,000 after buying an additional 1,784 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in Allegiant Travel by 33.8% in the first quarter. Illinois Municipal Retirement Fund now owns 9,826 shares of the transportation company's stock valued at $508,000 after purchasing an additional 2,480 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Allegiant Travel by 18.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company's stock worth $28,673,000 after purchasing an additional 47,186 shares in the last quarter. Finally, US Bancorp DE raised its holdings in Allegiant Travel by 575.4% in the fourth quarter. US Bancorp DE now owns 5,025 shares of the transportation company's stock valued at $473,000 after acquiring an additional 4,281 shares in the last quarter. 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.