Allegiant Travel (NASDAQ:ALGT) Given "Neutral" Rating at 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 reaffirmed by research 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 previous target price of $45.00. Susquehanna's price target would suggest a potential upside of 1.96% from the stock's previous close.

Several other research analysts have also commented on ALGT. Evercore ISI upgraded shares of Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price objective for the company in a research note on Tuesday, July 1st. Raymond James Financial reaffirmed a "strong-buy" rating and set a $80.00 price target (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. Morgan Stanley decreased their price objective on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. Barclays dropped their target price on 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, TD Cowen upped their target price on Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $64.33.

Allegiant Travel Stock Up 0.2%

Shares of NASDAQ:ALGT traded up $0.10 on Tuesday, reaching $49.04. The company had a trading volume of 511,758 shares, compared to its average volume of 456,076. The firm has a market capitalization of $899.88 million, a PE ratio of -3.08, a PEG ratio of 0.45 and a beta of 1.72. 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 has a 52-week low of $36.08 and a 52-week high of $107.57. The firm's 50 day simple moving average is $53.38 and its 200-day simple moving average is $58.89.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.40. The company had revenue of $689.40 million for the quarter, compared to the consensus estimate of $685.58 million. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. As a group, analysts expect 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 added to or reduced their stakes in ALGT. Empowered Funds LLC lifted its holdings in shares of Allegiant Travel by 2.0% during the second quarter. Empowered Funds LLC now owns 88,180 shares of the transportation company's stock worth $4,845,000 after purchasing an additional 1,745 shares during the period. Creative Planning increased its holdings in Allegiant Travel by 29.1% in the 2nd quarter. Creative Planning now owns 6,915 shares of the transportation company's stock worth $380,000 after buying an additional 1,558 shares during the period. SG Americas Securities LLC raised its position in Allegiant Travel by 17.2% during the 2nd quarter. SG Americas Securities LLC now owns 13,538 shares of the transportation company's stock worth $744,000 after buying an additional 1,982 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Allegiant Travel during the 2nd quarter valued at approximately $204,000. Finally, Boston Partners purchased a new stake in shares of Allegiant Travel in the 2nd quarter valued at $1,150,000. 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.