Allegiant Travel (NASDAQ:ALGT – Get Free Report) had its price target cut by research analysts at TD Cowen from $60.00 to $39.00 in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has a “hold” rating on the transportation company’s stock. TD Cowen’s price objective would indicate a potential downside of 21.02% from the company’s current price.
Several other analysts also recently weighed in on the company. Barclays cut their price target on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley reduced their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. 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 price objective on the stock. Evercore ISI reduced their price objective on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Allegiant Travel from a “buy” rating to a “hold” rating and dropped their target price for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Two research 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.13.
Read Our Latest Stock Report on ALGT
Allegiant Travel Price Performance
Shares of ALGT stock opened at $49.38 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35. The stock has a market cap of $900.20 million, a price-to-earnings ratio of 15.63, a PEG ratio of 1.94 and a beta of 1.66. The business’s fifty day moving average is $51.29 and its 200 day moving average is $64.27. Allegiant Travel has a twelve month low of $43.91 and a twelve month high of $129.89.
Allegiant Travel (NASDAQ:ALGT – Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $656.70 million during the quarter, compared to analyst estimates of $645.23 million. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. Allegiant Travel’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $3.04 EPS. Research analysts expect that Allegiant Travel will post 3.46 EPS for the current fiscal year.
Insider Buying and Selling
In other Allegiant Travel news, EVP Robert Paul Wilson III sold 4,600 shares of Allegiant Travel stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $54.00, for a total value of $248,400.00. Following the completion of the sale, the executive vice president now owns 75,698 shares of the company’s stock, valued at approximately $4,087,692. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CMO Scott Wayne Deangelo sold 19,687 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the completion of the sale, the chief marketing officer now owns 64,812 shares of the company’s stock, valued at approximately $3,479,108.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Paul Wilson III sold 4,600 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $54.00, for a total transaction of $248,400.00. Following the completion of the transaction, the executive vice president now directly owns 75,698 shares in the company, valued at approximately $4,087,692. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,037 shares of company stock worth $1,395,948. 17.50% of the stock is owned by insiders.
Institutional Trading of Allegiant Travel
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Allegiant Travel by 2.3% in the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after buying an additional 38,612 shares during the period. Dimensional Fund Advisors LP raised its stake in Allegiant Travel by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock worth $65,972,000 after acquiring an additional 98,662 shares during the period. U S Global Investors Inc. lifted its holdings in Allegiant Travel by 23.4% during the fourth quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company’s stock valued at $53,453,000 after purchasing an additional 122,844 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Allegiant Travel by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock valued at $51,233,000 after purchasing an additional 82,813 shares in the last quarter. Finally, Donald Smith & CO. Inc. boosted its position in shares of Allegiant Travel by 106.7% in the first quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock worth $23,299,000 after purchasing an additional 159,892 shares during the period. 85.81% of the stock is owned by hedge funds and other 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.
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