Allegiant Travel (NASDAQ:ALGT) Given New $60.00 Price Target at Barclays

Allegiant Travel (NASDAQ:ALGT) had its target price raised by Barclays from $52.00 to $60.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

ALGT has been the topic of a number of other reports. Zacks Research raised Allegiant Travel from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Bank of America raised their target price on shares of Allegiant Travel from $50.00 to $55.00 and gave the stock an “underperform” rating in a report on Wednesday. Morgan Stanley lowered their price target on shares of Allegiant Travel from $85.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, July 7th. Evercore ISI raised their price target on shares of Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday. Finally, UBS Group boosted their price objective on shares of Allegiant Travel from $52.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.89.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT opened at $59.47 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.68. The stock has a market cap of $1.09 billion, a PE ratio of -3.73, a PEG ratio of 0.55 and a beta of 1.71. The company’s fifty day moving average is $58.36 and its 200 day moving average is $54.39. Allegiant Travel has a 52 week low of $39.80 and a 52 week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Monday, August 4th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.40. The firm had revenue of $689.40 million for the quarter, compared to analysts’ expectations of $685.58 million. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%.The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $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. Research analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current year.

Institutional Investors Weigh In On Allegiant Travel

Large investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Allegiant Travel during the fourth quarter valued at about $655,000. GAMMA Investing LLC boosted its position in Allegiant Travel by 5,248.2% during the 1st quarter. GAMMA Investing LLC now owns 36,207 shares of the transportation company’s stock valued at $1,870,000 after acquiring an additional 35,530 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Allegiant Travel by 489.1% during the 1st quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company’s stock worth $28,000 after acquiring an additional 450 shares during the period. SG Americas Securities LLC bought a new position in shares of Allegiant Travel in the 1st quarter worth approximately $597,000. Finally, Illinois Municipal Retirement Fund raised its position 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 worth $508,000 after acquiring an additional 2,480 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

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.