Allegiant Travel Company (NASDAQ:ALGT - Get Free Report) shares fell 7.5% during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $85.00 to $83.00. Morgan Stanley currently has an equal weight rating on the stock. Allegiant Travel traded as low as $55.93 and last traded at $55.78. 402,090 shares changed hands during trading, a decline of 6% from the average session volume of 427,995 shares. The stock had previously closed at $60.29.
A number of other brokerages have also recently issued reports on ALGT. Evercore ISI upgraded Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 target price on the stock in a report on Tuesday, July 1st. Susquehanna dropped their target price on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Barclays dropped their target price on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Bank of America decreased their price target on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $80.00 target price (down from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Allegiant Travel has a consensus rating of "Hold" and an average target price of $64.40.
Read Our Latest Report on ALGT
Institutional Trading of Allegiant Travel
Several large investors have recently added to or reduced their stakes in ALGT. SG Americas Securities LLC acquired a new stake in shares of Allegiant Travel in the 1st quarter valued at approximately $597,000. Russell Investments Group Ltd. lifted its stake in shares of Allegiant Travel by 1,486.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company's stock worth $179,000 after purchasing an additional 1,784 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in Allegiant Travel by 33.8% during the first quarter. Illinois Municipal Retirement Fund now owns 9,826 shares of the transportation company's stock valued at $508,000 after buying an additional 2,480 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $28,673,000 after purchasing an additional 47,186 shares during the last quarter. Finally, US Bancorp DE increased its position in Allegiant Travel by 575.4% in the 4th 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 during the period. 85.81% of the stock is currently owned by hedge funds and other institutional investors.
Allegiant Travel Trading Down 6.9%
The business has a 50 day simple moving average of $54.11 and a 200-day simple moving average of $67.11. The stock has a market capitalization of $1.03 billion, a P/E ratio of -4.86, a price-to-earnings-growth ratio of 0.44 and a beta of 1.71. 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 (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 analysts' consensus estimates of $1.54 by $0.27. The company had revenue of $699.07 million during the quarter, compared to analyst estimates of $700.00 million. Allegiant Travel had a positive return on equity of 5.46% and a negative net margin of 8.11%. The company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. On average, analysts predict that Allegiant Travel Company will post 7.7 EPS for the current year.
Allegiant Travel Company Profile
(
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Allegiant Travel, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Allegiant Travel wasn't on the list.
While Allegiant Travel currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.