Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $65.00 at Evercore ISI

Allegiant Travel (NASDAQ:ALGT) had its price objective lifted by Evercore ISI from $60.00 to $65.00 in a research report report published on Thursday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the transportation company’s stock.

Several other analysts also recently issued reports on ALGT. Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a buy rating to a hold rating and lowered their price target for the company from $75.00 to $53.00 in a report on Monday, July 8th. Barclays lowered their price target on Allegiant Travel from $55.00 to $45.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. Susquehanna lowered their price target on Allegiant Travel from $55.00 to $40.00 and set a neutral rating for the company in a report on Friday, August 16th. TD Cowen increased their price target on Allegiant Travel from $33.00 to $42.00 and gave the company a hold rating in a report on Thursday. Finally, Morgan Stanley lowered their target price on Allegiant Travel from $95.00 to $87.00 and set an equal weight rating for the company in a research note on Monday, July 8th. Two equities research 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. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $61.25.

Allegiant Travel Trading Down 0.1 %

Shares of ALGT opened at $55.00 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $1.00 billion, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 6.10 and a beta of 1.65. The stock’s fifty day simple moving average is $44.19 and its 200 day simple moving average is $52.02. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $85.91.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.93. The business had revenue of $666.28 million for the quarter, compared to analyst estimates 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 posted $4.35 EPS. On average, equities research analysts forecast that Allegiant Travel will post 0.97 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the director now directly owns 7,490 shares in the company, valued at $337,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Hedge funds have recently bought and sold shares of the company. Interval Partners LP acquired a new position in Allegiant Travel in the first quarter worth about $5,641,000. Susquehanna Fundamental Investments LLC bought a new position in Allegiant Travel in the first quarter worth about $1,306,000. First Eagle Investment Management LLC lifted its holdings in Allegiant Travel by 57.5% in the first quarter. First Eagle Investment Management LLC now owns 103,513 shares of the transportation company’s stock worth $7,785,000 after acquiring an additional 37,800 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Allegiant Travel by 369.1% in the first quarter. BNP Paribas Financial Markets now owns 23,874 shares of the transportation company’s stock worth $1,796,000 after acquiring an additional 18,785 shares during the last quarter. Finally, SeaCrest Wealth Management LLC lifted its holdings in Allegiant Travel by 39.8% in the first quarter. SeaCrest Wealth Management LLC now owns 5,025 shares of the transportation company’s stock worth $378,000 after acquiring an additional 1,430 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.