Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $65.00 at UBS Group

Allegiant Travel (NASDAQ:ALGT) had its price target increased by UBS Group from $52.00 to $65.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. They currently have a neutral rating on the transportation company’s stock.

Several other equities analysts have also recently issued reports on the company. Zacks Research raised Allegiant Travel from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Evercore ISI upgraded shares of Allegiant Travel from an “in-line” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Tuesday, July 1st. Bank of America reduced their price objective on shares of Allegiant Travel from $50.00 to $45.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 8th. Susquehanna reaffirmed a “neutral” rating and issued a $50.00 target price (up from $45.00) on shares of Allegiant Travel in a research report on Tuesday, August 5th. Finally, Morgan Stanley cut their target price on shares of Allegiant Travel from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $65.78.

Allegiant Travel Price Performance

Shares of Allegiant Travel stock opened at $60.58 on Friday. The company’s fifty day simple moving average is $57.86 and its two-hundred day simple moving average is $54.25. Allegiant Travel has a 12-month low of $39.80 and a 12-month high of $107.57. The firm has a market cap of $1.11 billion, a PE ratio of -3.80, a price-to-earnings-growth ratio of 0.54 and a beta of 1.71. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.68.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.40. The company had revenue of $689.40 million during the quarter, compared to analyst estimates of $685.58 million. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. Allegiant Travel’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750–1.750 EPS. As a group, equities analysts expect that Allegiant Travel will post 7.7 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ALGT. Donald Smith & CO. Inc. boosted its stake in Allegiant Travel by 11.6% during the second quarter. Donald Smith & CO. Inc. now owns 1,506,633 shares of the transportation company’s stock worth $82,789,000 after acquiring an additional 156,186 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Allegiant Travel by 5.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 982,962 shares of the transportation company’s stock valued at $50,770,000 after purchasing an additional 54,321 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Allegiant Travel by 2.8% in the 2nd quarter. American Century Companies Inc. now owns 651,117 shares of the transportation company’s stock worth $35,779,000 after purchasing an additional 17,509 shares in the last quarter. Par Capital Management Inc. grew its stake in shares of Allegiant Travel by 11.1% in the 2nd quarter. Par Capital Management Inc. now owns 584,996 shares of the transportation company’s stock worth $32,146,000 after buying an additional 58,566 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Allegiant Travel by 1.0% during the 2nd quarter. Franklin Resources Inc. now owns 475,927 shares of the transportation company’s stock valued at $26,152,000 after buying an additional 4,595 shares in the last quarter. 85.81% of the stock is 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.