Allegiant Travel (NASDAQ:ALGT – Get Free Report) fell 8.5% on Thursday after TD Cowen lowered their price target on the stock from $60.00 to $39.00. TD Cowen currently has a hold rating on the stock. Allegiant Travel traded as low as $46.30 and last traded at $47.56. 657,573 shares were traded during trading, an increase of 98% from the average session volume of 332,894 shares. The stock had previously closed at $51.97.
ALGT has been the subject of several other reports. Evercore ISI cut their target price on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a research report on Monday. Barclays lowered their target price on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price target for the stock from $75.00 to $53.00 in a research report on Monday, July 8th. Susquehanna lowered their price target on shares of Allegiant Travel from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Morgan Stanley reduced their price objective on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $62.13.
Check Out Our Latest Research Report on ALGT
Insider Buying and Selling
In other Allegiant Travel news, COO Keny Frank Wilper sold 1,000 shares of Allegiant Travel stock in a transaction 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 in the company, valued at approximately $480,522. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Keny Frank Wilper sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.00, for a total transaction of $51,000.00. Following the completion of the transaction, the chief operating officer now directly owns 9,422 shares of the company’s stock, valued at $480,522. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Scott Wayne Deangelo sold 19,687 shares of Allegiant Travel stock in a transaction that occurred on Thursday, May 9th. The stock was 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 directly owns 64,812 shares in the company, valued at approximately $3,479,108.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,037 shares of company stock worth $1,395,948. 17.50% of the stock is owned by insiders.
Hedge Funds Weigh In On Allegiant Travel
Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in shares of Allegiant Travel during the 4th quarter valued at about $141,350,000. Donald Smith & CO. Inc. raised its stake 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 valued at $23,299,000 after acquiring an additional 159,892 shares during the period. U S Global Investors Inc. lifted 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 worth $53,453,000 after acquiring an additional 122,844 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 purchasing an additional 98,662 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Allegiant Travel during the 4th quarter worth about $7,187,000. Institutional investors own 85.81% of the company’s stock.
Allegiant Travel Price Performance
The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.74 and a current ratio of 0.76. The company has a market capitalization of $900.20 million, a P/E ratio of 15.63, a P/E/G ratio of 1.94 and a beta of 1.66. The firm’s fifty day moving average is $51.29 and its 200 day moving average is $64.27.
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 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 period in the prior year, the business posted $3.04 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, analysts predict that Allegiant Travel will post 3.46 earnings per share for the current fiscal year.
Allegiant Travel Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Tuesday, May 14th. Allegiant Travel’s payout ratio is presently 75.95%.
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.
See Also
Receive News & Ratings for Allegiant Travel Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Allegiant Travel and related companies with MarketBeat.com’s FREE daily email newsletter.
 "Salma Hayek is the queen of cozy airport fashion! See her comfortable looks")
