Allegiant Travel Company (NASDAQ:ALGT) Receives $70.56 Average Target Price from Analysts

Allegiant Travel Company (NASDAQ:ALGT) has been given an average recommendation of “Hold” by the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $70.5556.

A number of equities research analysts recently issued reports on ALGT shares. Bank of America lifted their price target on shares of Allegiant Travel from $50.00 to $55.00 and gave the company an “underperform” rating in a research note on Wednesday, October 1st. 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. Weiss Ratings reissued a “sell (d)” rating on shares of Allegiant Travel in a research note on Wednesday, October 8th. Barclays lifted their price target on shares of Allegiant Travel from $52.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Finally, Zacks Research raised shares of Allegiant Travel from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th.

Allegiant Travel Stock Performance

ALGT opened at $65.47 on Friday. Allegiant Travel has a 12-month low of $39.80 and a 12-month high of $107.57. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $1.20 billion, a PE ratio of -4.11, a P/E/G ratio of 0.52 and a beta of 1.71. The firm has a 50 day moving average of $62.46 and a two-hundred day moving average of $55.98.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. raised its holdings in shares of Allegiant Travel by 11.6% during the 2nd quarter. Donald Smith & CO. Inc. now owns 1,506,633 shares of the transportation company’s stock worth $82,789,000 after acquiring an additional 156,186 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Allegiant Travel by 5.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 982,962 shares of the transportation company’s stock worth $50,770,000 after acquiring an additional 54,321 shares during the period. American Century Companies Inc. raised its holdings in shares of Allegiant Travel by 2.8% during the 2nd quarter. American Century Companies Inc. now owns 651,117 shares of the transportation company’s stock worth $35,779,000 after acquiring an additional 17,509 shares during the period. Par Capital Management Inc. raised its holdings in Allegiant Travel by 11.1% in the 2nd quarter. Par Capital Management Inc. now owns 584,996 shares of the transportation company’s stock valued at $32,146,000 after buying an additional 58,566 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Allegiant Travel by 1.0% in the 2nd quarter. Franklin Resources Inc. now owns 475,927 shares of the transportation company’s stock valued at $26,152,000 after buying an additional 4,595 shares during the period. 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.