Allegiant Travel (NASDAQ:ALGT) Price Target Lowered to $52.00 at UBS Group

Key Points

• UBS Group has lowered its target price for Allegiant Travel (NASDAQ: ALGT) from $59.00 to $52.00, maintaining a "neutral" rating on the stock, which suggests a potential upside of 9.24% based on its previous close.
• Despite the downgraded target, Allegiant Travel's recent quarterly earnings report showed better-than-expected results with earnings per share of $1.23, surpassing analyst estimates of $0.83.
• Currently, there is a mixed consensus among analysts for Allegiant Travel, with one sell rating, eight hold ratings, one buy, and one strong buy rating, indicating cautious sentiment in the market.

Allegiant Travel (NASDAQ:ALGT - Free Report) had its target price lowered by UBS Group from $59.00 to $52.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the transportation company's stock.

A number of other research analysts have also weighed in on the company. Raymond James Financial reaffirmed a "strong-buy" rating and set a $80.00 price objective (down previously from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. Susquehanna reaffirmed a "neutral" rating and issued a $50.00 price objective (up previously from $45.00) on shares of Allegiant Travel in a report on Tuesday, August 5th. TD Cowen lifted 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. 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 research report on Monday, July 7th. Finally, Barclays lowered their price objective on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $64.33.

Allegiant Travel Stock Down 1.1%

ALGT stock traded down $0.54 during midday trading on Wednesday, hitting $48.94. The stock had a trading volume of 436,347 shares, compared to its average volume of 456,076. The firm has a market cap of $898.05 million, a price-to-earnings ratio of -3.07, a price-to-earnings-growth ratio of 0.45 and a beta of 1.72. The business has a 50-day moving average of $53.50 and a two-hundred day moving average of $59.56. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $107.57. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.07.

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 company had revenue of $689.40 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 earnings per share. As a group, equities research analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Trading of Allegiant Travel

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of Allegiant Travel by 489.1% in the first quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock valued at $28,000 after purchasing an additional 450 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Allegiant Travel by 803.6% in the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock valued at $47,000 after purchasing an additional 442 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Allegiant Travel by 376.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company's stock valued at $53,000 after purchasing an additional 817 shares during the period. GAMMA Investing LLC lifted its holdings in Allegiant Travel by 58.1% during the second quarter. GAMMA Investing LLC now owns 1,108 shares of the transportation company's stock worth $61,000 after buying an additional 407 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in Allegiant Travel during the fourth quarter worth $75,000. 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.