Allegiant Travel (NASDAQ:ALGT) Price Target Increased to $65.00 by Analysts at Evercore ISI

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

Other analysts also recently issued research reports about the company. Morgan Stanley dropped their price objective on Allegiant Travel from $95.00 to $87.00 and set an equal weight rating on the stock in a research note on Monday, July 8th. Barclays dropped their price target on shares of Allegiant Travel from $55.00 to $45.00 and set an equal weight rating on the stock in a research report on Wednesday, July 10th. TD Cowen raised their price objective on shares of Allegiant Travel from $33.00 to $42.00 and gave the company a hold rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a buy rating to a hold rating and lowered their price objective for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Finally, Susquehanna cut their target price on shares of Allegiant Travel from $55.00 to $40.00 and set a neutral rating for the company in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $61.25.

Allegiant Travel Stock Performance

ALGT stock opened at $57.81 on Thursday. The company has a market capitalization of $1.05 billion, a P/E ratio of 18.29, a PEG ratio of 6.10 and a beta of 1.65. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30. The company has a 50-day simple moving average of $44.37 and a 200 day simple moving average of $51.97. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $85.91.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The business had revenue of $666.28 million during the quarter, compared to analysts’ expectations of $657.74 million. During the same period last year, the firm posted $4.35 earnings per share. The business’s revenue was down 2.6% on a year-over-year basis. Sell-side analysts predict that Allegiant Travel will post 0.97 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares in the company, valued at approximately $337,050. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,699 shares of company stock worth $77,350 over the last 90 days. 17.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Allegiant Travel by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock valued at $131,591,000 after acquiring an additional 38,612 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Allegiant Travel by 1.9% during the second quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock worth $47,509,000 after purchasing an additional 17,792 shares during the period. Donald Smith & CO. Inc. grew its position in Allegiant Travel by 166.7% during the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after purchasing an additional 516,545 shares in the last quarter. American Century Companies Inc. increased its stake in Allegiant Travel by 15.1% in the 2nd quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock valued at $21,538,000 after buying an additional 56,208 shares during the period. Finally, Par Capital Management Inc. lifted its position in Allegiant Travel by 1.4% in the 4th quarter. Par Capital Management Inc. now owns 253,500 shares of the transportation company’s stock worth $20,942,000 after buying an additional 3,500 shares in the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

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.