Susquehanna Reiterates Neutral Rating for Allegiant Travel (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGT)‘s stock had its “neutral” rating reaffirmed by analysts at Susquehanna in a note issued to investors on Tuesday, MarketBeat reports. They currently have a $50.00 target price on the transportation company’s stock, up from their prior target price of $45.00. Susquehanna’s price target would indicate a potential downside of 0.60% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Morgan Stanley reduced their target price on Allegiant Travel from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Monday, July 7th. Evercore ISI raised shares of Allegiant Travel from an “in-line” rating to an “outperform” rating and set a $75.00 price objective for the company in a research note on Tuesday, July 1st. UBS Group assumed coverage on shares of Allegiant Travel in a research report on Monday, July 7th. They issued a “neutral” rating and a $59.00 target price on the stock. Barclays lowered 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 report on Thursday, May 8th. Finally, TD Cowen upped their price target on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.33.

Allegiant Travel Stock Up 2.9%

ALGT stock opened at $50.30 on Tuesday. 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 company’s 50 day simple moving average is $53.76 and its 200-day simple moving average is $60.63. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $107.57. The firm has a market capitalization of $917.98 million, a PE ratio of -3.16, a P/E/G ratio of 0.47 and a beta of 1.72.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.40. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 4.88%. The firm had revenue of $689.40 million during the quarter, compared to the consensus estimate of $685.58 million. During the same quarter in the previous year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts expect that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Trading of Allegiant Travel

A number of hedge funds and other institutional investors have recently modified their holdings of the business. New York State Common Retirement Fund grew its position in shares of Allegiant Travel by 8.5% during the first quarter. New York State Common Retirement Fund now owns 6,003 shares of the transportation company’s stock worth $310,000 after buying an additional 470 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Allegiant Travel by 8.2% during the 1st quarter. New York State Teachers Retirement System now owns 18,922 shares of the transportation company’s stock worth $977,000 after acquiring an additional 1,426 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Allegiant Travel in the 1st quarter worth about $597,000. Illinois Municipal Retirement Fund raised its stake in shares of Allegiant Travel by 33.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 9,826 shares of the transportation company’s stock valued at $508,000 after purchasing an additional 2,480 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Allegiant Travel by 1,486.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company’s stock worth $179,000 after purchasing an additional 1,784 shares during the last quarter. 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.