Allegiant Travel (NASDAQ:ALGT) PT Lowered to $65.00

Allegiant Travel (NASDAQ:ALGT) had its price objective decreased by investment analysts at Susquehanna from $76.00 to $65.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price objective would suggest a potential upside of 4.59% from the company’s current price.

ALGT has been the topic of a number of other reports. Barclays reduced their target price on shares of Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, April 5th. Raymond James reduced their target price on shares of Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. TD Cowen boosted their target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 6th. Finally, UBS Group started coverage on shares of Allegiant Travel in a research report on Wednesday, March 20th. They set a “sell” rating and a $58.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $89.75.

Allegiant Travel Trading Down 6.0 %

Shares of ALGT stock opened at $62.15 on Tuesday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 0.88 and a beta of 1.58. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.37. Allegiant Travel has a fifty-two week low of $54.87 and a fifty-two week high of $130.93. The firm’s 50 day moving average price is $73.46 and its two-hundred day moving average price is $73.79.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Monday, February 5th. The transportation company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.52. The firm had revenue of $611.00 million for the quarter, compared to analysts’ expectations of $596.42 million. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. Allegiant Travel’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.17 earnings per share. On average, analysts anticipate that Allegiant Travel will post 6 EPS for the current year.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $79.10, for a total transaction of $158,200.00. Following the completion of the sale, the director now owns 8,490 shares in the company, valued at $671,559. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.50% of the stock is owned by insiders.

Institutional Trading of Allegiant Travel

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE grew its position in shares of Allegiant Travel by 13.0% during the first quarter. US Bancorp DE now owns 1,158 shares of the transportation company’s stock worth $188,000 after acquiring an additional 133 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Allegiant Travel by 20.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,522 shares of the transportation company’s stock worth $410,000 after acquiring an additional 432 shares during the last quarter. Citigroup Inc. grew its position in shares of Allegiant Travel by 4.9% during the first quarter. Citigroup Inc. now owns 20,574 shares of the transportation company’s stock worth $3,341,000 after acquiring an additional 959 shares during the last quarter. AlphaCrest Capital Management LLC bought a new position in shares of Allegiant Travel during the first quarter worth about $390,000. Finally, Bank of Montreal Can grew its position in shares of Allegiant Travel by 5.0% during the first quarter. Bank of Montreal Can now owns 4,774 shares of the transportation company’s stock worth $771,000 after acquiring an additional 228 shares during the last quarter. 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.