Allegiant Travel (NASDAQ:ALGT – Free Report) had its price objective reduced by Barclays from $60.00 to $55.00 in a research report report published on Thursday, Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.
A number of other brokerages also recently issued reports on ALGT. Raymond James cut their price objective on shares of Allegiant Travel from $110.00 to $100.00 and set an outperform rating for the company in a research report on Tuesday, February 6th. Susquehanna dropped their target price on shares of Allegiant Travel from $76.00 to $65.00 and set a neutral rating for the company in a report on Tuesday, April 9th. UBS Group started coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They issued a sell rating and a $58.00 target price for the company. Finally, TD Cowen upped their target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the stock a market perform rating in a report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Allegiant Travel has an average rating of Hold and an average price target of $89.13.
Read Our Latest Stock Analysis on Allegiant Travel
Allegiant Travel Trading Down 0.6 %
NASDAQ:ALGT opened at $53.44 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37. Allegiant Travel has a 12 month low of $51.13 and a 12 month high of $130.93. The company has a market cap of $974.32 million, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.19 and a beta of 1.63. The company has a 50 day simple moving average of $64.76 and a two-hundred day simple moving average of $71.19.
Allegiant Travel (NASDAQ:ALGT – Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The firm had revenue of $656.70 million during the quarter, compared to the consensus estimate of $645.23 million. During the same quarter in the previous year, the firm posted $3.04 EPS. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts forecast that Allegiant Travel will post 4.37 earnings per share for the current year.
Allegiant Travel Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Tuesday, May 14th. Allegiant Travel’s payout ratio is currently 75.95%.
Insiders Place Their Bets
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 value of $158,200.00. Following the sale, the director now owns 8,490 shares in the company, valued at approximately $671,559. The sale was disclosed in a filing with the SEC, which can be accessed through 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 sale, the chief marketing officer now directly owns 64,812 shares in the company, valued at approximately $3,479,108.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary Ellmer sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $79.10, for a total transaction of $158,200.00. Following the sale, the director now owns 8,490 shares in the company, valued at $671,559. The disclosure for this sale can be found here. Insiders have sold a total of 26,287 shares of company stock worth $1,463,398 in the last 90 days. 17.50% of the stock is currently owned by corporate insiders.
Institutional Trading of Allegiant Travel
Hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Allegiant Travel during the 4th quarter valued at about $7,187,000. Qube Research & Technologies Ltd purchased a new stake in shares of Allegiant Travel during the 3rd quarter valued at about $5,364,000. Kennedy Capital Management LLC bought a new position in Allegiant Travel during the 3rd quarter valued at about $1,177,000. Illinois Municipal Retirement Fund bought a new position in Allegiant Travel during the 3rd quarter valued at about $715,000. Finally, GSA Capital Partners LLP bought a new position in Allegiant Travel during the 3rd quarter valued at about $1,404,000. 85.81% of the stock is currently 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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