Allegiant Travel (NASDAQ:ALGT) Trading Down 6.7% – What’s Next?

Allegiant Travel (NASDAQ:ALGT)’s stock price traded down 6.7% during trading on Monday . The company traded as low as $42.32 and last traded at $41.21. 33,356 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 420,210 shares. The stock had previously closed at $44.16.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ALGT shares. UBS Group lowered their target price on shares of Allegiant Travel from $61.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Barclays lowered their target price on Allegiant Travel from $100.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Morgan Stanley raised their price objective 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 Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a report on Thursday, April 3rd. Finally, Raymond James upgraded shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and decreased their price target for the company from $125.00 to $90.00 in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $67.00.

Allegiant Travel Stock Down 6.6 %

The firm has a market capitalization of $756.44 million, a P/E ratio of -3.09 and a beta of 1.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The stock has a fifty day moving average of $59.93 and a 200 day moving average of $74.26.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping the consensus estimate 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%. On average, research analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

Several hedge funds have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. purchased a new position in Allegiant Travel during the fourth quarter worth about $26,067,000. Emerald Advisers LLC purchased a new stake in Allegiant Travel in the fourth quarter valued at approximately $22,256,000. Voloridge Investment Management LLC bought a new stake in Allegiant Travel during the fourth quarter valued at approximately $16,713,000. Mesirow Institutional Investment Management Inc. purchased a new position in Allegiant Travel in the 4th quarter worth approximately $13,830,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Allegiant Travel by 16.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company’s stock worth $87,404,000 after buying an additional 131,561 shares during 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.