Allegiant Travel (NASDAQ:ALGT) Shares Gap Down - Should You Sell?

Allegiant Travel (NASDAQ:ALGT - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $53.69, but opened at $51.10. Allegiant Travel shares last traded at $50.19, with a volume of 89,704 shares.

Analyst Ratings Changes

A number of analysts recently issued reports on ALGT shares. Raymond James reissued a "strong-buy" rating and set a $80.00 target price (down previously from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. Susquehanna dropped their target price on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. TD Cowen increased their target price 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. Bank of America dropped their target price on shares of Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Finally, Morgan Stanley dropped their target price on shares of Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.70.

Allegiant Travel Stock Performance

The company has a market capitalization of $931.92 million, a PE ratio of -3.82 and a beta of 1.74. 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 company has a 50 day moving average price of $51.26 and a 200 day moving average price of $70.11.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its earnings results on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.54 by $0.27. The company had revenue of $699.07 million during the quarter, compared to analysts' expectations of $700.00 million. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The business's revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 EPS. Equities analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Hedge Funds Weigh In On Allegiant Travel

Large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in Allegiant Travel by 489.1% during the first quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock worth $28,000 after purchasing an additional 450 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in 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 purchasing an additional 223 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Allegiant Travel by 803.6% during the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock worth $47,000 after purchasing an additional 442 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Allegiant Travel by 376.5% during the first 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. Finally, Signaturefd LLC lifted its stake in Allegiant Travel by 30.3% during the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock worth $56,000 after purchasing an additional 138 shares during 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.