Brokerages Set Allegiant Travel (NASDAQ:ALGT) Price Target at $63.13

Shares of Allegiant Travel (NASDAQ:ALGT) have earned an average recommendation of “Hold” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $63.13.

Several analysts have weighed in on ALGT shares. Evercore ISI boosted their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Morgan Stanley dropped their price objective on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. TD Cowen raised their target price on Allegiant Travel from $33.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, October 3rd. Susquehanna boosted their price target on Allegiant Travel from $40.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $75.00 to $53.00 in a research note on Monday, July 8th.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $63.38 on Tuesday. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91. The business’s fifty day simple moving average is $47.03 and its 200-day simple moving average is $50.83. 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 company has a market cap of $1.16 billion, a PE ratio of 20.06, a PEG ratio of 3.11 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results 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 positive return on equity of 3.48% and a negative net margin of 0.57%. The company had revenue of $666.28 million for the quarter, compared to analyst estimates of $657.74 million. During the same period in the prior year, the company posted $4.35 EPS. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. Analysts expect that Allegiant Travel will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $337,050. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 1,699 shares of company stock valued at $77,350 over the last ninety days. Company insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Interval Partners LP purchased a new position in shares of Allegiant Travel in the 1st quarter valued at about $5,641,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Allegiant Travel in the first quarter valued at approximately $1,306,000. Clearbridge Investments LLC acquired a new position in shares of Allegiant Travel during the 2nd quarter worth approximately $8,959,000. First Eagle Investment Management LLC lifted its position in shares of Allegiant Travel by 57.5% during the 1st quarter. First Eagle Investment Management LLC now owns 103,513 shares of the transportation company’s stock valued at $7,785,000 after buying an additional 37,800 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Allegiant Travel by 369.1% in the 1st quarter. BNP Paribas Financial Markets now owns 23,874 shares of the transportation company’s stock valued at $1,796,000 after acquiring an additional 18,785 shares during the period. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.