Allegiant Travel (NASDAQ:ALGT) Receives $71.00 Average Price Target from Analysts

Shares of Allegiant Travel (NASDAQ:ALGT) have earned an average rating of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $67.00.

ALGT has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Bank of America cut their target price on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating for the company in a research note on Thursday, April 3rd. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. TD Cowen upped their price objective on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, December 17th. Finally, Morgan Stanley raised their price objective on Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th.

Allegiant Travel Price Performance

Shares of NASDAQ ALGT opened at $46.51 on Tuesday. The business has a fifty day moving average price of $64.25 and a two-hundred day moving average price of $74.45. The stock has a market capitalization of $852.90 million, a PE ratio of -3.48 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. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 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, equities analysts predict that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Trading of Allegiant Travel

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Crews Bank & Trust acquired a new stake in Allegiant Travel during the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp raised its stake in shares of Allegiant Travel by 94.5% during 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 during the last quarter. Sterling Capital Management LLC lifted its holdings 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 purchasing an additional 442 shares during the period. Signaturefd LLC grew its stake in shares of Allegiant Travel by 30.3% in the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after purchasing an additional 138 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Allegiant Travel by 53.5% in 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 during the last quarter. 85.81% of the stock is currently owned by institutional investors.

About Allegiant Travel

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.