Allegiant Travel (NASDAQ:ALGT) Stock Price Up 7.6% – Should You Buy?

Allegiant Travel (NASDAQ:ALGT) rose 7.6% during trading on Wednesday . The company traded as high as $53.65 and last traded at $54.73. Approximately 26,678 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 408,035 shares. The stock had previously closed at $50.85.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Susquehanna lifted their price objective on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. UBS Group lowered their price target on Allegiant Travel from $93.00 to $61.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Morgan Stanley upped their target price on Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Raymond James upgraded Allegiant Travel from an “outperform” rating to a “strong-buy” rating and cut their price target for the company from $125.00 to $90.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Allegiant Travel presently has a consensus rating of “Hold” and a consensus target price of $82.60.

Allegiant Travel Stock Up 7.2 %

The company’s fifty day simple moving average is $75.22 and its 200-day simple moving average is $74.67. The firm has a market capitalization of $999.73 million, a PE ratio of -4.08 and a beta of 1.64. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping 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%. On average, analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Hedge Funds Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently modified their holdings of ALGT. Crews Bank & Trust acquired a new position in Allegiant Travel during the 4th quarter valued at approximately $25,000. Jones Financial Companies Lllp grew its holdings in shares of Allegiant Travel by 94.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after buying an additional 223 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of 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 acquiring an additional 442 shares during the period. Signaturefd LLC raised its stake 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 last quarter. 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 period. 85.81% of the stock is owned by hedge funds and other 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.