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

Allegiant Travel (NASDAQ:ALGT) had its target price cut by Barclays from $100.00 to $60.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

A number of other research firms also recently commented on ALGT. Susquehanna dropped their target price on shares of Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday. UBS Group dropped their price objective on Allegiant Travel from $61.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday. Raymond James raised Allegiant Travel from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $125.00 to $90.00 in a report on Wednesday, April 2nd. Morgan Stanley raised their price target on Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group lifted their price target on Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. One equities research 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. Based on data from MarketBeat.com, Allegiant Travel currently has an average rating of “Hold” and an average target price of $67.00.

Allegiant Travel Trading Down 7.9 %

NASDAQ:ALGT opened at $46.38 on Tuesday. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57. The stock has a market cap of $850.52 million, a P/E ratio of -3.47 and a beta of 1.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The stock has a 50-day simple moving average of $65.30 and a 200-day simple moving average of $74.46.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. As a group, analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Several large investors have recently modified their holdings of ALGT. Crews Bank & Trust acquired a new position in Allegiant Travel in the 4th quarter valued at $25,000. Jones Financial Companies Lllp boosted its holdings in shares of 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 in the last quarter. Sterling Capital Management LLC increased its stake in shares of Allegiant Travel by 803.6% during the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock worth $47,000 after acquiring an additional 442 shares during the period. Signaturefd LLC increased its stake in shares of Allegiant Travel by 30.3% during the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after acquiring an additional 138 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Allegiant Travel by 53.5% during 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.

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.