Allegiant Travel (NASDAQ:ALGT) Upgraded by Evercore ISI to "Outperform" Rating

Allegiant Travel (NASDAQ:ALGT - Get Free Report) was upgraded by investment analysts at Evercore ISI from an "in-line" rating to an "outperform" rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $75.00 target price on the transportation company's stock. Evercore ISI's price objective suggests a potential upside of 36.64% from the company's previous close.

A number of other research firms have also recently weighed in on ALGT. TD Cowen increased their price target on Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a report on Monday, May 12th. Susquehanna decreased their target price on shares of 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 price target on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. UBS Group lifted their target price on shares of Allegiant Travel from $45.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $80.00 price target (down from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $64.70.

Allegiant Travel Price Performance

NASDAQ ALGT traded down $0.06 during trading hours on Tuesday, hitting $54.89. 22,175 shares of the company's stock traded hands, compared to its average volume of 426,271. The company has a market capitalization of $1.00 billion, a PE ratio of -4.80, a PEG ratio of 0.32 and a beta of 1.74. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.90 and a quick ratio of 0.87. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57. The firm's 50-day moving average is $52.97 and its 200-day moving average is $67.76.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.27. Allegiant Travel had a negative net margin of 8.11% and a positive return on equity of 5.46%. The company had revenue of $699.07 million for the quarter, compared to the consensus estimate of $700.00 million. During the same period in the previous year, the firm earned $0.57 earnings per share. Allegiant Travel's quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Allegiant Travel in the 1st quarter valued at about $597,000. Russell Investments Group Ltd. raised its stake in shares of Allegiant Travel by 1,486.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company's stock worth $179,000 after buying an additional 1,784 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Allegiant Travel by 18.3% in 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 acquiring an additional 47,186 shares during the period. US Bancorp DE lifted its position in shares of Allegiant Travel by 575.4% during 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. Finally, Raymond James Financial Inc. acquired a new stake in Allegiant Travel in the fourth quarter valued at $383,000. Hedge funds and other institutional investors own 85.81% of the company's stock.

About Allegiant Travel

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.