Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $60.00

Allegiant Travel (NASDAQ:ALGT) had its price objective upped by UBS Group from $45.00 to $60.00 in a research note published on Tuesday, MarketBeat.com reports. They currently have a neutral rating on the transportation company’s stock.

A number of other research firms have also weighed in on ALGT. Susquehanna cut their target price on shares of Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Barclays cut their target price on shares of Allegiant Travel from $60.00 to $52.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Morgan Stanley boosted their target price on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Bank of America cut their target price on shares of Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. Finally, TD Cowen boosted their target price on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $64.70.

Allegiant Travel Stock Down 1.9%

ALGT stock opened at $55.26 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57. The company has a fifty day simple moving average of $50.26 and a 200 day simple moving average of $72.68. The firm has a market cap of $1.01 billion, a PE ratio of -4.13 and a beta of 1.78.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.27. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. The business had revenue of $699.07 million during the quarter, compared to analyst estimates of $700.00 million. During the same quarter in the previous year, the business earned $0.57 EPS. Allegiant Travel’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Crews Bank & Trust bought a new stake in Allegiant Travel in the fourth quarter valued at about $25,000. Jones Financial Companies Lllp increased its stake in Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 223 shares during the period. Sterling Capital Management LLC increased its stake in Allegiant Travel by 803.6% in the fourth 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. Farther Finance Advisors LLC increased its stake in Allegiant Travel by 489.1% in the first quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 450 shares during the period. Finally, Signaturefd LLC increased its stake in Allegiant Travel by 30.3% in the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 138 shares during the period. Institutional investors 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.