Allegiant Travel (NASDAQ:ALGT) Price Target Lowered to $45.00 at Barclays

Allegiant Travel (NASDAQ:ALGT) had its price target dropped by investment analysts at Barclays from $55.00 to $45.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price target would suggest a potential downside of 4.88% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley decreased their price target on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday. Susquehanna cut their target price on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. TD Cowen cut their target price on shares of Allegiant Travel from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Wednesday, May 15th. UBS Group started coverage on shares of Allegiant Travel in a research report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and cut their price target for the company from $75.00 to $53.00 in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $72.25.

Allegiant Travel Trading Up 4.9 %

Shares of ALGT stock opened at $47.31 on Wednesday. The stock has a market capitalization of $862.46 million, a price-to-earnings ratio of 14.97, a PEG ratio of 1.22 and a beta of 1.66. Allegiant Travel has a 1 year low of $43.91 and a 1 year high of $130.93. The company’s fifty day simple moving average is $51.76 and its two-hundred day simple moving average is $65.52. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.76 and a quick ratio of 0.74.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. The firm had revenue of $656.70 million for the quarter, compared to analysts’ expectations of $645.23 million. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.04 earnings per share. As a group, analysts anticipate that Allegiant Travel will post 3.62 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Robert Paul Wilson III sold 4,600 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $54.00, for a total value of $248,400.00. Following the sale, the executive vice president now owns 75,698 shares in the company, valued at $4,087,692. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Robert Paul Wilson III sold 4,600 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $54.00, for a total transaction of $248,400.00. Following the sale, the executive vice president now directly owns 75,698 shares in the company, valued at approximately $4,087,692. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Scott Wayne Deangelo sold 19,687 shares of Allegiant Travel stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the completion of the sale, the chief marketing officer now owns 64,812 shares in the company, valued at $3,479,108.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,037 shares of company stock worth $1,395,948. 17.50% of the stock is owned by insiders.

Institutional Trading of Allegiant Travel

A number of institutional investors and hedge funds have recently bought and sold shares of ALGT. International Assets Investment Management LLC bought a new stake in Allegiant Travel in the 4th quarter valued at $141,350,000. Donald Smith & CO. Inc. grew its stake in shares of Allegiant Travel by 106.7% in the 1st quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock worth $23,299,000 after buying an additional 159,892 shares in the last quarter. U S Global Investors Inc. grew its stake in shares of Allegiant Travel by 23.4% in the 4th quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company’s stock worth $53,453,000 after buying an additional 122,844 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Allegiant Travel by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock worth $65,972,000 after buying an additional 98,662 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Allegiant Travel in the 4th quarter worth $7,187,000. 85.81% of the stock is currently owned by institutional investors.

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.