Allegiant Travel (NASDAQ:ALGT) Price Target Cut to $50.00 by Analysts at Susquehanna

Allegiant Travel (NASDAQ:ALGT) had its price target reduced by research analysts at Susquehanna from $95.00 to $50.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s target price would suggest a potential upside of 9.85% from the stock’s previous close.

A number of other brokerages have also issued reports on ALGT. Morgan Stanley boosted their price target on Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Barclays increased their target price on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. TD Cowen increased their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group boosted their target price on Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. One 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 stock. According to data from MarketBeat, Allegiant Travel has an average rating of “Hold” and a consensus target price of $72.60.

Allegiant Travel Stock Performance

NASDAQ ALGT traded down $1.04 during trading hours on Monday, hitting $45.52. The company had a trading volume of 174,019 shares, compared to its average volume of 411,747. The business has a fifty day simple moving average of $72.05 and a 200-day simple moving average of $74.84. The firm has a market cap of $834.65 million, a P/E ratio of -3.40 and a beta of 1.57. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. Equities analysts predict that Allegiant Travel will post 7.7 EPS for the current year.

Hedge Funds Weigh In On Allegiant Travel

A number of institutional investors have recently bought and sold shares of the stock. Crews Bank & Trust acquired a new stake in shares of Allegiant Travel during the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp lifted its stake in Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after acquiring an additional 223 shares in the last quarter. Sterling Capital Management LLC grew its stake in Allegiant Travel by 803.6% during 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 in the last quarter. Signaturefd LLC increased its holdings in shares of Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 138 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after purchasing an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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.