Susquehanna Trims Allegiant Travel (NASDAQ:ALGT) Target Price to $65.00

Allegiant Travel (NASDAQ:ALGT - Free Report) had its price target decreased by Susquehanna from $76.00 to $65.00 in a research report report published on Tuesday, Benzinga reports. Susquehanna currently has a neutral rating on the transportation company's stock.

ALGT has been the subject of a number of other research reports. TD Cowen lifted their price objective on Allegiant Travel from $82.00 to $85.00 and gave the company a market perform rating in a research note on Tuesday, February 6th. UBS Group initiated coverage on Allegiant Travel in a research note on Wednesday, March 20th. They set a sell rating and a $58.00 price objective for the company. Barclays reduced their price objective on Allegiant Travel from $65.00 to $60.00 and set an equal weight rating for the company in a research note on Friday. Finally, Raymond James cut their price target on Allegiant Travel from $110.00 to $100.00 and set an outperform rating for the company in a research note on Tuesday, February 6th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $89.75.

Allegiant Travel Stock Performance

ALGT stock traded up $0.29 during midday trading on Tuesday, reaching $66.09. The stock had a trading volume of 213,338 shares, compared to its average volume of 252,553. The stock has a market cap of $1.21 billion, a PE ratio of 10.46, a P/E/G ratio of 0.83 and a beta of 1.58. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.83. The firm has a fifty day simple moving average of $73.78 and a two-hundred day simple moving average of $73.87. Allegiant Travel has a 52-week low of $54.87 and a 52-week high of $130.93.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its earnings results on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.52. The company had revenue of $611.00 million during the quarter, compared to analyst estimates of $596.42 million. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The firm's quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $3.17 EPS. As a group, equities research analysts anticipate that Allegiant Travel will post 6.36 EPS for the current year.

Allegiant Travel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Wednesday, February 14th. Allegiant Travel's payout ratio is 37.97%.

Insider Buying and Selling

In other news, Director Gary Ellmer sold 2,000 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $79.10, for a total transaction of $158,200.00. Following the transaction, the director now directly owns 8,490 shares in the company, valued at approximately $671,559. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 17.50% of the stock is currently owned by insiders.

Institutional Trading of Allegiant Travel

Several institutional investors have recently made changes to their positions in the company. Barclays PLC raised its position in shares of Allegiant Travel by 127.6% during the 4th quarter. Barclays PLC now owns 31,723 shares of the transportation company's stock valued at $2,620,000 after buying an additional 17,786 shares during the period. Vident Advisory LLC raised its position in shares of Allegiant Travel by 13.8% during the 4th quarter. Vident Advisory LLC now owns 3,362 shares of the transportation company's stock valued at $278,000 after buying an additional 407 shares during the period. Nuveen Asset Management LLC raised its position in shares of Allegiant Travel by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 48,954 shares of the transportation company's stock valued at $4,044,000 after buying an additional 489 shares during the period. Par Capital Management Inc. raised its position in shares of Allegiant Travel by 1.4% during the 4th quarter. Par Capital Management Inc. now owns 253,500 shares of the transportation company's stock valued at $20,942,000 after buying an additional 3,500 shares during the period. Finally, Public Sector Pension Investment Board raised its position in shares of Allegiant Travel by 67.5% during the 4th quarter. Public Sector Pension Investment Board now owns 31,317 shares of the transportation company's stock valued at $2,587,000 after buying an additional 12,621 shares during the period. Hedge funds and other institutional investors 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.