Allegiant Travel (NASDAQ:ALGT) Receives $67.00 Consensus Target Price from Brokerages

Allegiant Travel (NASDAQ:ALGT) has been given a consensus rating of “Hold” by the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $65.20.

ALGT has been the subject of several recent analyst reports. StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Morgan Stanley lifted their price objective on Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Barclays cut their target price on Allegiant Travel from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday. Bank of America lowered their target price on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Finally, Raymond James restated a “strong-buy” rating and set a $80.00 price target (down from $90.00) on shares of Allegiant Travel in a report on Wednesday.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALGT. Barclays PLC boosted its stake in Allegiant Travel by 136.9% during the 3rd quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock valued at $1,755,000 after purchasing an additional 18,421 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Allegiant Travel by 2.5% during the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock valued at $34,584,000 after buying an additional 14,852 shares during the last quarter. GAMMA Investing LLC grew its holdings in Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after buying an additional 236 shares in the last quarter. SeaCrest Wealth Management LLC raised its position in Allegiant Travel by 3.3% in the 4th quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock valued at $584,000 after buying an additional 200 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Allegiant Travel by 1,614.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company’s stock valued at $849,000 after acquiring an additional 8,491 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Stock Down 0.4 %

Shares of NASDAQ:ALGT opened at $54.39 on Friday. The firm has a market cap of $992.89 million, a P/E ratio of -4.07 and a beta of 1.78. Allegiant Travel has a 12-month low of $36.09 and a 12-month high of $107.57. The business has a fifty day simple moving average of $50.57 and a 200 day simple moving average of $72.84. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.27. The company had revenue of $699.07 million for the quarter, compared to analyst estimates of $700.00 million. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. Analysts predict that Allegiant Travel will post 7.7 earnings per share for the current year.

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.