Allegiant Travel (NASDAQ:ALGT) Stock Gets Price Target Bump from UBS Group

Key Points

• UBS raised its price target on Allegiant Travel to $120 from $107 and maintained a Buy rating, implying 25.75% potential upside from the share price cited in the report.
• Analyst sentiment is mixed but leans positive: the stock has a Moderate Buy consensus and a $125.15 average price target, with ratings ranging from Strong Buy to Sell.
• Allegiant beat quarterly expectations, reporting an adjusted loss of $0.03 per share versus analysts’ forecast of a $0.44 loss; revenue of $961.56 million was up 71.2% year over year.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) had its price objective raised by UBS Group from $107.00 to $120.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the transportation company's stock. UBS Group's target price would indicate a potential upside of 25.75% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. Susquehanna decreased their target price on Allegiant Travel from $110.00 to $85.00 and set a "neutral" rating for the company in a research note on Wednesday, October 7th. Zacks Research lowered shares of Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 15th. Barclays cut their price objective on shares of Allegiant Travel from $145.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, September 11th. Weiss Ratings restated a "sell (d)" rating on shares of Allegiant Travel in a research report on Wednesday, November 4th. Finally, Citigroup restated a "buy" rating on shares of Allegiant Travel in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $125.15.

Allegiant Travel Trading Down 0.9%

Shares of ALGT traded down $0.82 during trading on Thursday, reaching $95.42. 18,670 shares of the company traded hands, compared to its average volume of 550,793. The stock has a 50-day simple moving average of $76.83 and a 200-day simple moving average of $87.61. The stock has a market cap of $2.61 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 0.28 and a beta of 1.65. Allegiant Travel has a twelve month low of $61.36 and a twelve month high of $123.63. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 1.45.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The transportation company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.44) by $0.41. Allegiant Travel had a return on equity of 11.95% and a net margin of 1.65%. The company had revenue of $961.56 million for the quarter, compared to analysts' expectations of $946.44 million. During the same period in the prior year, the firm earned ($2.09) earnings per share. The firm's revenue was up 71.2% compared to the same quarter last year. On average, analysts anticipate that Allegiant Travel will post 6.72 earnings per share for the current year.

Insider Activity at Allegiant Travel

In related news, Director Charles W. Pollard sold 10,000 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $93.04, for a total transaction of $930,400.00. Following the completion of the sale, the director directly owned 16,000 shares of the company's stock, valued at $1,488,640. This trade represents a 38.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegiant Travel

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in shares of Allegiant Travel during the 2nd quarter worth $26,232,000. Venture Visionary Partners LLC acquired a new stake in shares of Allegiant Travel in the third quarter valued at about $2,745,000. VELA Investment Management LLC acquired a new stake in shares of Allegiant Travel in the second quarter valued at about $4,461,000. BlackRock Inc. acquired a new stake in shares of Allegiant Travel in the second quarter valued at about $416,591,000. Finally, U S Global Investors Inc. boosted its holdings in Allegiant Travel by 10.6% during the third quarter. U S Global Investors Inc. now owns 384,198 shares of the transportation company's stock worth $29,118,000 after buying an additional 36,953 shares in the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Company Profile

Allegiant Travel Company is a leisure-focused travel company best known for operating Allegiant Air, a low-cost airline. The airline offers scheduled, nonstop flights connecting smaller and midsize U.S. cities with popular vacation destinations, along with optional services such as seat selection and baggage allowances. Allegiant's route network is concentrated in the United States, with service tailored to leisure travelers and demand that can vary by season. The company also offers travel-related products, including hotel and rental-car bookings, to complement its flights.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.