Allegiant Travel (NASDAQ:ALGT) Receives Consensus Rating of “Hold” from Analysts

Shares of Allegiant Travel (NASDAQ:ALGT) have been assigned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $80.10.

Several analysts have recently commented on ALGT shares. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Morgan Stanley increased their price objective on Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Bank of America boosted their target price on shares of Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a research report on Friday, January 17th. The Goldman Sachs Group increased their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, UBS Group began coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price objective on the stock.

Hedge Funds Weigh In On Allegiant Travel

Several hedge funds have recently added to or reduced their stakes in ALGT. Empowered Funds LLC grew its position in shares of Allegiant Travel by 5.2% in the third quarter. Empowered Funds LLC now owns 80,695 shares of the transportation company’s stock valued at $4,443,000 after purchasing an additional 4,020 shares during the last quarter. Drive Wealth Management LLC purchased a new stake in Allegiant Travel in the 3rd quarter valued at approximately $471,000. Segall Bryant & Hamill LLC grew its holdings in Allegiant Travel by 5.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 103,508 shares of the transportation company’s stock valued at $5,699,000 after buying an additional 5,052 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Allegiant Travel during the 3rd quarter valued at $450,000. Finally, Landscape Capital Management L.L.C. purchased a new position in Allegiant Travel during the third quarter worth $6,193,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Stock Down 3.3 %

Shares of Allegiant Travel stock opened at $52.42 on Friday. Allegiant Travel has a one year low of $36.09 and a one year high of $107.57. The company has a market cap of $961.28 million, a P/E ratio of -3.92 and a beta of 1.64. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The firm has a fifty day moving average of $84.65 and a two-hundred day moving average of $73.76.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. On average, analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current year.

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.