Allegiant Travel Company (NASDAQ:ALGT - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $52.78, but opened at $56.01. Allegiant Travel shares last traded at $58.01, with a volume of 139,522 shares trading hands.
Analysts Set New Price Targets
ALGT has been the topic of several recent analyst reports. Bank of America decreased their target price on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a report on Tuesday, July 8th. Morgan Stanley decreased their target price 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. TD Cowen boosted their target price on shares of Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a report on Monday, May 12th. Raymond James Financial restated a "strong-buy" rating and issued a $80.00 price objective (down from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. Finally, Evercore ISI upgraded shares of Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price objective on the stock in a report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel currently has an average rating of "Hold" and a consensus target price of $65.11.
View Our Latest Stock Analysis on Allegiant Travel
Allegiant Travel Stock Performance
The company has a market capitalization of $994.99 million, a price-to-earnings ratio of -4.71, a price-to-earnings-growth ratio of 0.45 and a beta of 1.71. The company has a current ratio of 0.90, a quick ratio of 0.87 and a debt-to-equity ratio of 1.57. The stock's fifty day simple moving average is $54.87 and its 200-day simple moving average is $65.93.
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, topping analysts' consensus estimates 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 8.11% and a positive return on equity of 5.46%. The firm's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. Analysts predict that Allegiant Travel Company will post 7.7 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp grew its position in shares of Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock valued at $43,000 after buying an additional 223 shares during the last quarter. Sterling Capital Management LLC grew its position in Allegiant Travel by 803.6% during the 4th 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. Farther Finance Advisors LLC grew its position in Allegiant Travel by 489.1% during the 1st 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. Signaturefd LLC grew its position in 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 purchasing an additional 138 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Allegiant Travel during the 4th quarter worth $75,000. 85.81% of the stock is owned by hedge funds and other institutional investors.
About Allegiant Travel
(
Get Free Report)
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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