Allegiant Travel (NASDAQ:ALGT – Free Report) had its price objective reduced by Susquehanna from $60.00 to $55.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.
Several other analysts have also issued reports on ALGT. Evercore ISI dropped their target price on shares of Allegiant Travel from $85.00 to $60.00 and set an in-line rating on the stock in a research report on Monday. Barclays decreased their price target on shares of 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 decreased their price target on shares of 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. Deutsche Bank Aktiengesellschaft downgraded shares of Allegiant Travel from a buy rating to a hold rating and decreased their price target for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Finally, TD Cowen decreased their price target on shares of Allegiant Travel from $65.00 to $60.00 and set a hold rating on the stock in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $64.75.
Check Out Our Latest Stock Report on Allegiant Travel
Allegiant Travel Stock Up 4.2 %
Shares of NASDAQ ALGT opened at $52.68 on Tuesday. The company’s 50-day simple moving average is $51.40 and its 200-day simple moving average is $64.46. Allegiant Travel has a 52-week low of $43.91 and a 52-week high of $129.89. The firm has a market cap of $960.46 million, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.83 and a beta of 1.66. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35.
Allegiant Travel (NASDAQ:ALGT – Get Free Report) last announced its earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The business had revenue of $656.70 million for the quarter, compared to analyst estimates of $645.23 million. During the same quarter last year, the business earned $3.04 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts predict that Allegiant Travel will post 3.46 EPS for the current fiscal year.
Allegiant Travel Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date was Tuesday, May 14th. Allegiant Travel’s dividend payout ratio (DPR) is presently 75.95%.
Insiders Place Their Bets
In other news, COO Keny Frank Wilper sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.00, for a total value of $51,000.00. Following the sale, the chief operating officer now directly owns 9,422 shares of the company’s stock, valued at approximately $480,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Keny Frank Wilper sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.00, for a total value of $51,000.00. Following the sale, the chief operating officer now directly owns 9,422 shares of the company’s stock, valued at approximately $480,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Paul Wilson III sold 4,600 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $54.00, for a total transaction of $248,400.00. Following the completion of the sale, the executive vice president now directly owns 75,698 shares in the company, valued at $4,087,692. The disclosure for this sale can be found here. Insiders have sold 26,037 shares of company stock valued at $1,395,948 over the last ninety days. Company insiders own 17.50% of the company’s stock.
Institutional Investors Weigh In On Allegiant Travel
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Allegiant Travel in the fourth quarter valued at approximately $7,187,000. Franklin Resources Inc. grew its holdings in shares of Allegiant Travel by 15.4% in 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. Susquehanna Fundamental Investments LLC acquired a new position in shares of Allegiant Travel in the first quarter valued at approximately $1,306,000. First Eagle Investment Management LLC grew its holdings in shares of Allegiant Travel by 94.2% in the fourth quarter. First Eagle Investment Management LLC now owns 65,713 shares of the transportation company’s stock valued at $5,429,000 after purchasing an additional 31,875 shares in the last quarter. Finally, Jade Capital Advisors LLC acquired a new position in shares of Allegiant Travel in the fourth quarter valued at approximately $1,239,000. 85.81% of the stock is owned by hedge funds and other institutional investors.
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.
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