Brokerages Set Allegiant Travel (NASDAQ:ALGT) Price Target at $59.50

Allegiant Travel (NASDAQ:ALGT) has earned an average rating of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $59.50.

ALGT has been the topic of a number of analyst reports. Evercore ISI lowered their price objective on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Susquehanna decreased their price target on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Barclays cut their price objective on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and decreased their target price for the stock from $75.00 to $53.00 in a research report on Monday, July 8th. Finally, TD Cowen cut their price target on shares of Allegiant Travel from $39.00 to $33.00 and set a “hold” rating for the company in a report on Wednesday, August 7th.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the director now directly owns 7,490 shares in the company, valued at approximately $337,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allegiant Travel

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Allegiant Travel by 2.3% during the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after acquiring an additional 38,612 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Allegiant Travel by 1.9% in the second quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock valued at $47,509,000 after purchasing an additional 17,792 shares during the period. Donald Smith & CO. Inc. increased its stake in Allegiant Travel by 166.7% in the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after purchasing an additional 516,545 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Allegiant Travel by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock worth $65,972,000 after buying an additional 98,662 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Allegiant Travel by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock worth $51,233,000 after buying an additional 82,813 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Trading Up 5.1 %

NASDAQ:ALGT opened at $48.51 on Friday. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. The stock’s 50 day simple moving average is $43.75 and its 200-day simple moving average is $52.59. The firm has a market cap of $884.43 million, a P/E ratio of 15.35, a PEG ratio of 5.50 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.93. The company had revenue of $666.28 million during the quarter, compared to the consensus estimate of $657.74 million. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. Allegiant Travel’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.35 EPS. Equities analysts anticipate that Allegiant Travel will post 0.96 EPS for the current year.

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.