Allegiant Travel (NASDAQ:ALGT) Stock Price Expected to Rise, UBS Group Analyst Says

Allegiant Travel (NASDAQ:ALGT) had its price objective upped by UBS Group from $45.00 to $60.00 in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have a neutral rating on the transportation company’s stock.

Other analysts have also recently issued reports about the stock. Bank of America decreased their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. Susquehanna decreased their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Barclays decreased their price objective 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. StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, Raymond James reiterated a “strong-buy” rating and set a $80.00 target price (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Allegiant Travel presently has an average rating of “Hold” and a consensus target price of $64.70.

Allegiant Travel Price Performance

Shares of Allegiant Travel stock opened at $55.26 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.13 and a beta of 1.78. Allegiant Travel has a 1-year low of $36.09 and a 1-year high of $107.57. The firm’s 50-day moving average price is $50.26 and its two-hundred day moving average price is $72.68.

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

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently bought and sold shares of ALGT. SeaCrest Wealth Management LLC boosted its stake in Allegiant Travel by 3.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock valued at $584,000 after acquiring an additional 200 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Allegiant Travel by 1,614.3% in the fourth 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 during the last quarter. Crews Bank & Trust bought a new position in Allegiant Travel in the fourth quarter valued at approximately $25,000. Empowered Funds LLC boosted its stake in Allegiant Travel by 5.0% in the fourth quarter. Empowered Funds LLC now owns 84,748 shares of the transportation company’s stock valued at $7,976,000 after acquiring an additional 4,053 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Allegiant Travel by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 70,588 shares of the transportation company’s stock valued at $6,644,000 after acquiring an additional 2,133 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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.