Allegiant Travel (NASDAQ:ALGT) Receives Neutral Rating from Susquehanna

Key Points

• Susquehanna has increased the price target for Allegiant Travel from $45.00 to $50.00, indicating a potential upside of 2.90% from its current price while maintaining a "neutral" rating.
• Allegiant Travel reported a surprising earnings per share of $1.23 for the last quarter, significantly above the consensus estimate of $0.83, with revenues also rising by 3.5% year-over-year.
• Institutional investors hold a significant majority of Allegiant Travel stock, accounting for 85.81% of total shares, reflecting strong confidence and interest from larger investment entities.

Allegiant Travel (NASDAQ:ALGT - Get Free Report)'s stock had its "neutral" rating reiterated by investment analysts at Susquehanna in a research report issued to clients and investors on Tuesday, MarketBeat reports. They currently have a $50.00 target price on the transportation company's stock, up from their prior target price of $45.00. Susquehanna's price objective indicates a potential upside of 2.31% from the stock's current price.

Several other equities analysts have also recently issued reports on ALGT. UBS Group assumed coverage on Allegiant Travel in a report on Monday, July 7th. They issued a "neutral" rating and a $59.00 price objective for the company. TD Cowen boosted their price target on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Evercore ISI upgraded shares of Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price target on the stock in a research report on Tuesday, July 1st. Barclays cut their price target on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Finally, Bank of America cut their target price on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $65.11.

Allegiant Travel Stock Up 0.6%

Shares of Allegiant Travel stock opened at $48.87 on Tuesday. The stock has a market cap of $891.88 million, a price-to-earnings ratio of -3.07, a PEG ratio of 0.40 and a beta of 1.72. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.90 and a quick ratio of 0.87. The firm's 50-day moving average is $53.89 and its two-hundred day moving average is $60.70. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $107.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.40. The business had revenue of $689.40 million during the quarter, compared to the consensus estimate of $685.58 million. Allegiant Travel had a positive return on equity of 4.88% and a negative net margin of 11.10%. The company's quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. As a group, research analysts expect that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Trading of Allegiant Travel

Hedge funds have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. increased its stake in Allegiant Travel by 32.6% during the first quarter. Donald Smith & CO. Inc. now owns 1,350,447 shares of the transportation company's stock worth $69,751,000 after acquiring an additional 331,998 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Allegiant Travel during the fourth quarter valued at about $26,067,000. Federated Hermes Inc. acquired a new stake in shares of Allegiant Travel during the first quarter valued at about $9,864,000. Voloridge Investment Management LLC acquired a new stake in shares of Allegiant Travel during the fourth quarter valued at about $16,713,000. Finally, MetLife Investment Management LLC grew its stake in shares of Allegiant Travel by 1,621.0% during the first quarter. MetLife Investment Management LLC now owns 159,691 shares of the transportation company's stock valued at $8,248,000 after acquiring an additional 150,412 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, 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.