Allegiant Travel (NASDAQ:ALGT) Price Target Cut to $61.00 by Analysts at UBS Group

Allegiant Travel (NASDAQ:ALGT) had its price objective trimmed by UBS Group from $93.00 to $61.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

A number of other analysts have also issued reports on ALGT. TD Cowen increased their price target on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, December 17th. Morgan Stanley lifted their target price on shares of Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Bank of America lifted their price objective on Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research report on Friday, January 17th. Finally, Raymond James upped their target price on Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $84.60.

Allegiant Travel Stock Down 5.3 %

ALGT stock opened at $53.03 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The firm has a market capitalization of $972.46 million, a P/E ratio of -3.97 and a beta of 1.64. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57. The company’s 50 day simple moving average is $82.86 and its 200-day simple moving average is $73.49.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Crews Bank & Trust acquired a new position in Allegiant Travel during the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp boosted its holdings in shares of Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after buying an additional 223 shares during the period. Sterling Capital Management LLC grew its stake in Allegiant Travel by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock valued at $47,000 after buying an additional 442 shares during the last quarter. Signaturefd LLC raised its holdings in Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after acquiring an additional 138 shares during the period. Finally, GAMMA Investing LLC lifted its position in Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares during the last quarter. 85.81% of the stock is 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.