Allegiant Travel (NASDAQ:ALGT) Upgraded at 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 report issued on Thursday, September 4th,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. Barclays dropped 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. 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 note on Monday, May 12th. UBS Group lowered their target price on shares of Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Bank of America dropped their target price on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating for the company in a report on Tuesday, July 8th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $80.00 target price (down from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Allegiant Travel presently has an average rating of "Hold" and a consensus price target of $64.33.

Allegiant Travel Stock Performance

Shares of Allegiant Travel stock traded up $1.85 on Thursday, reaching $64.80. 114,350 shares of the stock were exchanged, compared to its average volume of 440,432. Allegiant Travel has a 1-year low of $39.80 and a 1-year high of $107.57. 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 business has a fifty day moving average price of $56.15 and a two-hundred day moving average price of $54.76. The firm has a market capitalization of $1.19 billion, a PE ratio of -4.07, a PEG ratio of 0.55 and a beta of 1.71.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.40. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. The business had revenue of $689.40 million for the quarter, compared to analyst estimates of $685.58 million. During the same period in the previous year, the business posted $0.75 earnings per share. The business's revenue was up 3.5% compared to the same quarter last year. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. As a group, research analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALGT. Raymond James Financial Inc. acquired a new position in shares of Allegiant Travel during the 4th quarter worth approximately $383,000. Northern Trust Corp grew its stake in Allegiant Travel by 8.3% in the 4th quarter. Northern Trust Corp now owns 154,282 shares of the transportation company's stock worth $14,521,000 after acquiring an additional 11,864 shares during the period. Ameriprise Financial Inc. grew its stake in Allegiant Travel by 137.7% in the 4th quarter. Ameriprise Financial Inc. now owns 120,470 shares of the transportation company's stock worth $11,339,000 after acquiring an additional 69,786 shares during the period. Deutsche Bank AG grew its stake in Allegiant Travel by 209.6% in the 4th quarter. Deutsche Bank AG now owns 26,573 shares of the transportation company's stock worth $2,501,000 after acquiring an additional 17,991 shares during the period. Finally, Graham Capital Management L.P. purchased a new stake in Allegiant Travel in the 4th quarter worth approximately $1,176,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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.