Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $85.00

Allegiant Travel (NASDAQ:ALGT) had its target price raised by Morgan Stanley from $80.00 to $85.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

ALGT has been the subject of a number of other reports. UBS Group boosted their target price on shares of Allegiant Travel from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday. Zacks Research upgraded shares of Allegiant Travel from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, October 8th. Barclays raised their target price on shares of Allegiant Travel from $52.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Finally, Susquehanna lifted their price target on shares of Allegiant Travel from $50.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $70.89.

Allegiant Travel Stock Up 2.9%

NASDAQ ALGT opened at $70.89 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.68. Allegiant Travel has a 52 week low of $39.80 and a 52 week high of $107.57. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -4.45, a PEG ratio of 0.49 and a beta of 1.77. The company has a fifty day moving average of $63.31 and a two-hundred day moving average of $57.16.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Thursday, May 12th. The transportation company reported $1.18 EPS for the quarter. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. The firm had revenue of $496.88 million during the quarter. On average, analysts predict that Allegiant Travel will post 7.7 earnings per share for the current year.

Institutional Trading of Allegiant Travel

A number of hedge funds have recently bought and sold shares of ALGT. Donald Smith & CO. Inc. increased its holdings in shares of Allegiant Travel by 32.6% in the 1st quarter. Donald Smith & CO. Inc. now owns 1,350,447 shares of the transportation company’s stock valued at $69,751,000 after acquiring an additional 331,998 shares during the period. Heartland Advisors Inc. bought a new stake in Allegiant Travel during the third quarter valued at about $12,747,000. Federated Hermes Inc. bought a new stake in Allegiant Travel during the first quarter valued at about $9,864,000. MetLife Investment Management LLC grew its stake in Allegiant Travel by 1,621.0% in the first quarter. MetLife Investment Management LLC now owns 159,691 shares of the transportation company’s stock valued at $8,248,000 after purchasing an additional 150,412 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Allegiant Travel by 40.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 389,832 shares of the transportation company’s stock worth $20,135,000 after purchasing an additional 112,875 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.