Allegiant Travel (NASDAQ:ALGT) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research has upgraded Allegiant Travel from a "strong sell" to a "hold" rating, reflecting a shift in analysts' outlook on the company.
• Multiple equities research firms have issued varying ratings and target prices for Allegiant Travel, with a consensus target price of $64.33.
• Allegiant Travel reported $1.23 earnings per share (EPS) for the last quarter, exceeding analysts' expectations significantly.

Zacks Research upgraded shares of Allegiant Travel (NASDAQ:ALGT - Free Report) from a strong sell rating to a hold rating in a research note released on Thursday,Zacks.com reports.

Several other research analysts also recently commented on ALGT. Susquehanna restated a "neutral" rating and issued a $50.00 target price (up previously from $45.00) on shares of Allegiant Travel in a research note on Tuesday, August 5th. Barclays cut their target price on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Raymond James Financial restated a "strong-buy" rating and issued a $80.00 target price (down previously from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. Morgan Stanley lowered their target price on shares of Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Finally, Bank of America lowered their target price on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $64.33.

Allegiant Travel Stock Performance

Shares of ALGT stock traded down $1.99 on Thursday, hitting $62.54. 341,080 shares of the stock were exchanged, compared to its average volume of 397,694. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $1.15 billion, a PE ratio of -3.92, a P/E/G ratio of 0.58 and a beta of 1.71. Allegiant Travel has a one year low of $39.10 and a one year high of $107.57. The firm's 50 day moving average is $56.03 and its two-hundred day moving average is $54.66.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted 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 during 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 quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 EPS. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. Sell-side analysts expect that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Trading of Allegiant Travel

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC raised its holdings in shares of Allegiant Travel by 489.1% in the 1st quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock valued at $28,000 after acquiring an additional 450 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Allegiant Travel by 28.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company's stock valued at $51,000 after acquiring an additional 205 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Allegiant Travel by 376.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company's stock valued at $53,000 after acquiring an additional 817 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Allegiant Travel by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,108 shares of the transportation company's stock valued at $61,000 after buying an additional 407 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Allegiant Travel by 43.7% during the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company's stock valued at $67,000 after buying an additional 373 shares in the last quarter. 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.