Brokerages Set Allegiant Travel Company (NASDAQ:ALGT) Price Target at $64.33

Allegiant Travel Company (NASDAQ:ALGT) has received an average rating of “Hold” from the ten ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $64.3333.

A number of research analysts recently issued reports on ALGT shares. Susquehanna restated a “neutral” rating and set a $50.00 price target (up previously from $45.00) on shares of Allegiant Travel in a research note on Tuesday, August 5th. Raymond James Financial restated 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. Evercore ISI upgraded shares of Allegiant Travel from an “in-line” rating to an “outperform” rating and set a $75.00 price target for the company in a research report on Tuesday, July 1st. UBS Group decreased their price target on shares of Allegiant Travel from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Finally, Bank of America dropped their price objective 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALGT. Tower Research Capital LLC TRC lifted its position in shares of Allegiant Travel by 856.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,308 shares of the transportation company’s stock valued at $182,000 after acquiring an additional 2,962 shares during the period. Two Sigma Securities LLC acquired a new position in Allegiant Travel during the second quarter worth $571,000. Par Capital Management Inc. boosted its position in Allegiant Travel by 11.1% during the second quarter. Par Capital Management Inc. now owns 584,996 shares of the transportation company’s stock worth $32,146,000 after purchasing an additional 58,566 shares in the last quarter. HRT Financial LP purchased a new stake in Allegiant Travel during the second quarter worth $2,309,000. Finally, Engineers Gate Manager LP grew its holdings in Allegiant Travel by 120.0% in the second quarter. Engineers Gate Manager LP now owns 23,595 shares of the transportation company’s stock valued at $1,297,000 after purchasing an additional 12,869 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Stock Down 0.2%

Shares of NASDAQ:ALGT opened at $59.78 on Monday. The firm has a 50 day simple moving average of $53.59 and a 200-day simple moving average of $58.29. Allegiant Travel has a twelve month low of $38.89 and a twelve month 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 company has a market capitalization of $1.10 billion, a PE ratio of -3.75, a P/E/G ratio of 0.54 and a beta of 1.72.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Monday, August 4th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating 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 negative net margin of 11.10% and a positive return on equity of 5.00%. Allegiant Travel’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. On average, equities analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

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.