TD Cowen Issues Positive Forecast for Allegiant Travel (NASDAQ:ALGT) Stock Price

Allegiant Travel (NASDAQ:ALGT) had its price objective boosted by analysts at TD Cowen from $42.00 to $50.00 in a research report issued to clients and investors on Friday, Briefing.com reports. The firm presently has a “hold” rating on the transportation company’s stock. TD Cowen’s price target would indicate a potential downside of 23.09% from the company’s current price.

Several other research analysts have also issued reports on the stock. Evercore ISI increased their price target 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. Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and cut their target price for the stock from $75.00 to $53.00 in a research 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 on the stock in a research report on Wednesday, July 10th. Susquehanna lifted their price objective on Allegiant Travel from $40.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley lowered their target price 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $64.13.

Allegiant Travel Trading Up 3.3 %

Shares of ALGT opened at $65.01 on Friday. The stock’s 50-day moving average price is $51.36 and its 200 day moving average price is $50.95. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -43.34, a P/E/G ratio of 4.11 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, October 30th. The transportation company reported ($2.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.85) by ($0.17). Allegiant Travel had a positive return on equity of 0.63% and a negative net margin of 1.04%. The business had revenue of $562.20 million for the quarter, compared to analyst estimates of $561.24 million. As a group, research analysts predict that Allegiant Travel will post 1.27 earnings per share for the current 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 dated 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 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 is accessible through this hyperlink. In other news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction 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 sale, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $337,050. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the transaction, the chief operating officer now directly owns 16,353 shares in the company, valued at $1,025,169.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,334 shares of company stock worth $117,158 in the last 90 days. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC bought a new stake in shares of Allegiant Travel during the 3rd quarter valued at $63,540,000. Interval Partners LP acquired a new position in Allegiant Travel in the first quarter valued at about $5,641,000. Susquehanna Fundamental Investments LLC bought a new position in Allegiant Travel during the first quarter worth about $1,306,000. Clearbridge Investments LLC acquired a new position in shares of Allegiant Travel during the 2nd quarter worth about $8,959,000. Finally, First Eagle Investment Management LLC increased its stake in shares of Allegiant Travel by 57.5% in 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 acquiring an additional 37,800 shares during the last quarter. 85.81% of the stock is owned by institutional investors.

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.