Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $65.00 at UBS Group

Key Points

• UBS Group has raised its price target for Allegiant Travel from $52.00 to $65.00, suggesting an 8.73% potential upside from the current stock price.
• Evercore ISI upgraded Allegiant Travel to an "outperform" rating with a target of $75.00, while other analysts have set varying targets, resulting in an average price target of $65.78.
• Allegiant Travel reported a quarterly earnings beat, with earnings per share of $1.23, exceeding estimates by $0.40, along with a 3.5% year-over-year revenue increase.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) had its price objective boosted by investment analysts at UBS Group from $52.00 to $65.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the transportation company's stock. UBS Group's target price indicates a potential upside of 8.73% from the company's current price.

Several other research analysts have also issued reports on the company. Evercore ISI upgraded Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price objective for the company in a research note on Tuesday, July 1st. Bank of America reduced their price target on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a research report on Tuesday, July 8th. Susquehanna reissued a "neutral" rating and set a $50.00 price objective (up previously from $45.00) on shares of Allegiant Travel in a report on Tuesday, August 5th. Zacks Research raised shares of Allegiant Travel from a "strong sell" rating to a "hold" rating in a report on Thursday, September 4th. Finally, Morgan Stanley decreased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Allegiant Travel has an average rating of "Hold" and an average target price of $65.78.

Allegiant Travel Stock Up 0.9%

Shares of NASDAQ ALGT traded up $0.52 during trading hours on Friday, hitting $59.78. The stock had a trading volume of 11,758 shares, compared to its average volume of 435,648. The company has a market capitalization of $1.10 billion, a P/E ratio of -3.76, a P/E/G ratio of 0.55 and a beta of 1.71. The firm's 50-day moving average price is $57.68 and its two-hundred day moving average price is $54.22. Allegiant Travel has a 52 week low of $39.80 and a 52 week high of $107.57. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.40. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%.The company had revenue of $689.40 million during the quarter, compared to analysts' expectations of $685.58 million. During the same period in the prior year, the business earned $0.75 earnings per share. Allegiant Travel's revenue for the quarter was up 3.5% compared to the same quarter last year. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. Analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Several institutional investors and hedge funds have recently made changes to their positions in ALGT. Farther Finance Advisors LLC grew its position in shares of 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 increased its holdings in Allegiant Travel by 28.3% during 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 holdings in 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 valued at $53,000 after purchasing an additional 817 shares during the period. GAMMA Investing LLC grew its holdings 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 worth $61,000 after acquiring an additional 407 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in shares of Allegiant Travel by 43.7% during the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company's stock worth $67,000 after acquiring an additional 373 shares during the period. 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.

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