Allegiant Travel (NASDAQ:ALGT – Get Free Report) had its target price lowered by analysts at Susquehanna from $60.00 to $55.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price objective indicates a potential upside of 8.80% from the company’s previous close.
Several other research analysts also recently issued reports on ALGT. UBS Group initiated coverage on Allegiant Travel in a report on Wednesday, March 20th. They set a “sell” rating and a $58.00 price objective on the stock. TD Cowen reduced their price objective on Allegiant Travel from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Wednesday, May 15th. Morgan Stanley cut their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Evercore ISI cut their price target on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and cut their price target for the company from $75.00 to $53.00 in a research note on Monday, July 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $64.75.
Read Our Latest Analysis on ALGT
Allegiant Travel Stock Up 1.7 %
Shares of ALGT opened at $50.55 on Tuesday. The business’s 50 day simple moving average is $51.42 and its 200-day simple moving average is $64.67. Allegiant Travel has a one year low of $43.91 and a one year high of $129.89. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.76 and a quick ratio of 0.74. The company has a market capitalization of $921.53 million, a P/E ratio of 16.00, a PEG ratio of 1.83 and a beta of 1.66.
Allegiant Travel (NASDAQ:ALGT – Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The firm had revenue of $656.70 million for the quarter, compared to the consensus estimate of $645.23 million. During the same quarter in the prior year, the business earned $3.04 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that Allegiant Travel will post 3.46 EPS for the current fiscal year.
Insider Activity at Allegiant Travel
In related news, CMO Scott Wayne Deangelo sold 19,687 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.68, for a total value of $1,056,798.16. Following the completion of the sale, the chief marketing officer now owns 64,812 shares in the company, valued at approximately $3,479,108.16. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 19,687 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the completion of the transaction, the chief marketing officer now owns 64,812 shares in the company, valued at approximately $3,479,108.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert Paul Wilson III sold 750 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total value of $39,750.00. Following the transaction, the executive vice president now owns 74,948 shares of the company’s stock, valued at approximately $3,972,244. The disclosure for this sale can be found here. Insiders sold a total of 26,037 shares of company stock worth $1,395,948 in the last quarter. Corporate insiders own 17.50% of the company’s stock.
Hedge Funds Weigh In On Allegiant Travel
A number of large investors have recently added to or reduced their stakes in ALGT. International Assets Investment Management LLC bought a new position in Allegiant Travel during the 4th quarter worth about $141,350,000. Donald Smith & CO. Inc. grew its holdings in shares of Allegiant Travel by 106.7% in the 1st quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock valued at $23,299,000 after acquiring an additional 159,892 shares in the last quarter. U S Global Investors Inc. grew its holdings in shares of Allegiant Travel by 23.4% in the 4th quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company’s stock valued at $53,453,000 after acquiring an additional 122,844 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Allegiant Travel by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock valued at $65,972,000 after acquiring an additional 98,662 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Allegiant Travel in the 4th quarter valued at about $7,187,000. Institutional investors own 85.81% of the company’s stock.
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.
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