Allegiant Travel's (ALGT) "Sell (D)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "sell (D)" rating for Allegiant Travel (ALGT), signaling ongoing concerns regarding the company's performance.
• Various analysts have differing views on Allegiant Travel, with Bank of America and Barclays issuing lower price targets while Evercore ISI has set a more optimistic target and rated the stock as "outperform."
• Despite the mixed ratings, Allegiant Travel's stock has risen 2.7% recently, trading at $66.54 with a market cap of $1.22 billion and a high of $107.57 over the past year.

Allegiant Travel (NASDAQ:ALGT - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

A number of other research analysts have also recently issued reports on the stock. Bank of America raised their price target on shares of Allegiant Travel from $50.00 to $55.00 and gave the stock an "underperform" rating in a report on Wednesday, October 1st. Barclays raised their price target on shares of Allegiant Travel from $52.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 1st. Evercore ISI increased their price objective on shares of Allegiant Travel from $75.00 to $85.00 and gave the stock an "outperform" rating in a research note on Monday, September 29th. Zacks Research upgraded shares of Allegiant Travel from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 4th. Finally, UBS Group increased their price objective on shares of Allegiant Travel from $52.00 to $65.00 and gave the stock a "neutral" rating in a research note on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Allegiant Travel currently has an average rating of "Hold" and an average price target of $70.56.

Allegiant Travel Stock Up 2.7%

NASDAQ:ALGT traded up $1.75 during midday trading on Friday, reaching $66.54. 168,436 shares of the stock traded hands, compared to its average volume of 421,401. Allegiant Travel has a 12-month low of $39.80 and a 12-month high of $107.57. The business has a 50-day moving average of $62.16 and a two-hundred day moving average of $55.58. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10. The stock has a market capitalization of $1.22 billion, a PE ratio of -4.17, a price-to-earnings-growth ratio of 0.52 and a beta of 1.71.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings results on Thursday, May 12th. The transportation company reported $1.18 earnings per share (EPS) for the quarter. The business had revenue of $496.88 million during the quarter. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. On average, equities analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Trading of Allegiant Travel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Silver Oak Securities Incorporated acquired a new stake in Allegiant Travel during the third quarter valued at $633,000. Inspire Investing LLC grew its position in shares of Allegiant Travel by 5.0% in the third quarter. Inspire Investing LLC now owns 7,451 shares of the transportation company's stock valued at $453,000 after purchasing an additional 357 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Allegiant Travel by 4.9% in the third quarter. Harbor Capital Advisors Inc. now owns 3,759 shares of the transportation company's stock valued at $228,000 after purchasing an additional 176 shares during the period. State of Wyoming purchased a new position in shares of Allegiant Travel in the second quarter worth about $159,000. Finally, Nomura Holdings Inc. acquired a new position in Allegiant Travel during the second quarter worth about $663,000. 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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