Barclays Forecasts Strong Price Appreciation for Allegiant Travel (NASDAQ:ALGT) Stock

Key Points

• Barclays has raised Allegiant Travel's price target from $52.00 to $60.00, maintaining an "equal weight" rating, suggesting a minor potential downside of 0.88% from the current stock price.
• Other analysts have mixed ratings on Allegiant Travel, with UBS raising their target to $65.00 while Morgan Stanley lowered their target from $85.00 to $83.00, reflecting a range of opinions on the stock's performance.
• Allegiant Travel recently reported stronger-than-expected quarterly earnings with an EPS of $1.23, surpassing estimates, contributing to positive revenue growth of 3.5% year-over-year.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) had its price target upped by investment analysts at Barclays from $52.00 to $60.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the transportation company's stock. Barclays's target price suggests a potential downside of 0.88% from the stock's previous close.

Other analysts have also issued research reports about the stock. Susquehanna restated a "neutral" rating and set a $50.00 price target (up previously from $45.00) on shares of Allegiant Travel in a research report on Tuesday, August 5th. Morgan Stanley lowered their target price on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. UBS Group lifted their target price 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. Zacks Research raised Allegiant Travel from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. Finally, Evercore ISI raised their price objective on shares of Allegiant Travel from $75.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday. 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 one has assigned a Sell 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 $68.89.

Allegiant Travel Stock Down 0.4%

Shares of ALGT stock traded down $0.24 during trading hours on Wednesday, reaching $60.54. 37,692 shares of the company's stock were exchanged, compared to its average volume of 432,807. The stock's 50 day moving average is $58.26 and its 200-day moving average is $54.36. Allegiant Travel has a fifty-two week low of $39.80 and a fifty-two week high of $107.57. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -3.81, a P/E/G ratio of 0.57 and a beta of 1.71. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 1.68.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The transportation company reported $1.23 EPS for the quarter, beating the consensus estimate of $0.83 by $0.40. The firm had revenue of $689.40 million during the quarter, compared to analyst estimates of $685.58 million. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. Allegiant Travel's revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm posted $0.75 EPS. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. Analysts predict that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Trading of Allegiant Travel

Several large investors have recently modified their holdings of ALGT. Steward Partners Investment Advisory LLC raised its position in shares of Allegiant Travel by 28.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company's stock worth $51,000 after purchasing an additional 205 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in Allegiant Travel by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 17,275 shares of the transportation company's stock valued at $949,000 after purchasing an additional 338 shares in the last quarter. Picton Mahoney Asset Management boosted its stake in shares of Allegiant Travel by 6.6% during the 1st quarter. Picton Mahoney Asset Management now owns 5,550 shares of the transportation company's stock worth $286,000 after purchasing an additional 344 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Allegiant Travel by 43.7% during the second quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company's stock worth $67,000 after buying an additional 373 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Allegiant Travel by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,202 shares of the transportation company's stock valued at $475,000 after buying an additional 394 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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.

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.