Allegiant Travel (NASDAQ:ALGT) Given Average Rating of “Hold” by Analysts

Shares of Allegiant Travel (NASDAQ:ALGT) have earned a consensus rating of “Hold” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $59.50.

A number of research firms recently weighed in on ALGT. Susquehanna decreased their price objective on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Barclays lowered their price objective on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. TD Cowen reduced their target price on Allegiant Travel from $39.00 to $33.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and lowered their price target for the stock from $75.00 to $53.00 in a report on Monday, July 8th. Finally, Evercore ISI reduced their price objective on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a research note on Monday, July 15th.

Allegiant Travel Trading Up 0.5 %

Shares of Allegiant Travel stock opened at $43.06 on Friday. The firm’s 50 day moving average is $44.12 and its 200 day moving average is $53.50. The firm has a market capitalization of $785.07 million, a PE ratio of 13.63, a price-to-earnings-growth ratio of 5.50 and a beta of 1.64. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $85.91. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, beating the consensus estimate of $0.84 by $0.93. The firm had revenue of $666.28 million during the quarter, compared to the consensus estimate of $657.74 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the company earned $4.35 earnings per share. Equities research analysts forecast that Allegiant Travel will post 0.96 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now directly owns 7,490 shares in the company, valued at approximately $337,050. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 17.50% of the company’s stock.

Institutional Trading of Allegiant Travel

Several institutional investors have recently made changes to their positions in ALGT. Innealta Capital LLC bought a new position in shares of Allegiant Travel during the second quarter valued at about $34,000. CWM LLC increased its stake in Allegiant Travel by 275.1% in the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after buying an additional 930 shares during the last quarter. Headlands Technologies LLC lifted its position in shares of Allegiant Travel by 170.6% during the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after buying an additional 1,590 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Allegiant Travel during the 1st quarter worth approximately $141,000. Finally, Commerce Bank purchased a new position in shares of Allegiant Travel in the 4th quarter worth approximately $201,000. Institutional investors own 85.81% of the company’s stock.

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.