Allegiant Travel Company (NASDAQ:ALGT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Allegiant Travel Company (NASDAQ:ALGT) have been assigned a consensus rating of “Hold” from the ten research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $65.11.

Several research analysts recently weighed in on ALGT shares. Barclays cut their target price on shares of Allegiant Travel from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Morgan Stanley dropped their price objective on shares of Allegiant Travel from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, July 7th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $80.00 price objective (down previously from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. TD Cowen upped their price objective on shares of Allegiant Travel from $35.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, May 12th. Finally, UBS Group initiated coverage on shares of Allegiant Travel in a research note on Monday, July 7th. They set a “neutral” rating and a $59.00 price objective for the company.

Institutional Investors Weigh In On Allegiant Travel

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 223 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Allegiant Travel in the 4th quarter valued at approximately $383,000. Amundi raised its stake in shares of Allegiant Travel by 168.3% in the 4th quarter. Amundi now owns 7,010 shares of the transportation company’s stock valued at $696,000 after acquiring an additional 4,397 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Allegiant Travel in the 4th quarter valued at approximately $270,000. Finally, Signaturefd LLC raised its stake in shares of Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 138 shares in the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

NASDAQ:ALGT opened at $52.51 on Thursday. The firm’s fifty day moving average price is $55.03 and its 200 day moving average price is $65.49. Allegiant Travel has a 1-year low of $36.09 and a 1-year high of $107.57. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.90 and a quick ratio of 0.87. The firm has a market cap of $958.57 million, a price-to-earnings ratio of -4.54, a price-to-earnings-growth ratio of 0.43 and a beta of 1.71.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.54 by $0.27. The company had revenue of $699.07 million for the quarter, compared to analyst estimates of $700.00 million. Allegiant Travel had a negative net margin of 8.11% and a positive return on equity of 5.46%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. On average, sell-side analysts expect that Allegiant Travel will post 7.7 EPS for the current year.

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.