Allegiant Travel (NASDAQ:ALGT) PT Raised to $42.00 at TD Cowen

Allegiant Travel (NASDAQ:ALGT) had its target price upped by analysts at TD Cowen from $33.00 to $42.00 in a report released on Thursday, Marketbeat.com reports. The firm currently has a “hold” rating on the transportation company’s stock. TD Cowen’s price objective suggests a potential downside of 27.35% from the stock’s current price.

ALGT has been the topic of a number of other research reports. Evercore ISI lowered their price objective on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Barclays cut their target price on shares of 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. Susquehanna decreased their price target on shares of Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Finally, Morgan Stanley cut their price objective on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $61.25.

Allegiant Travel Stock Performance

Shares of Allegiant Travel stock opened at $57.81 on Thursday. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $85.91. The firm’s 50-day moving average is $44.27 and its 200 day moving average is $52.04. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 6.10 and a beta of 1.65. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.74 and a quick ratio of 0.71.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.93. The firm had revenue of $666.28 million for 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%. The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.35 earnings per share. Sell-side analysts anticipate that Allegiant Travel will post 0.97 EPS for the current fiscal year.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares in the company, valued at approximately $337,050. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 1,699 shares of company stock worth $77,350. 17.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Allegiant Travel by 2.3% in the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after buying an additional 38,612 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Allegiant Travel by 1.9% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock worth $47,509,000 after purchasing an additional 17,792 shares in the last quarter. Donald Smith & CO. Inc. boosted its holdings in shares of Allegiant Travel by 166.7% during the 2nd 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. American Century Companies Inc. grew its position in shares of Allegiant Travel by 15.1% during the second quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock valued at $21,538,000 after purchasing an additional 56,208 shares in the last quarter. Finally, Par Capital Management Inc. increased its holdings in shares of Allegiant Travel by 1.4% in the fourth quarter. Par Capital Management Inc. now owns 253,500 shares of the transportation company’s stock worth $20,942,000 after purchasing an additional 3,500 shares during the last quarter. 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.