Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $55.00 at Bank of America

Allegiant Travel (NASDAQ:ALGT) had its target price hoisted by Bank of America from $50.00 to $55.00 in a report issued on Wednesday morning,Benzinga reports. Bank of America currently has an underperform rating on the transportation company’s stock.

A number of other brokerages also recently weighed in on ALGT. Evercore ISI lifted their target price on Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday. Zacks Research upgraded shares of Allegiant Travel from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Susquehanna reiterated a “neutral” rating and set a $50.00 target price (up previously from $45.00) on shares of Allegiant Travel in a research report on Tuesday, August 5th. 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. Finally, UBS Group increased their price objective on shares of Allegiant Travel from $52.00 to $65.00 and gave the stock 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 issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $68.89.

Allegiant Travel Trading Down 2.1%

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

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share (EPS) 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 5.00%. The business had revenue of $689.40 million for the quarter, compared to analyst estimates of $685.58 million. During the same quarter in the previous year, the business earned $0.75 earnings per share. Allegiant Travel’s revenue for the quarter was up 3.5% on a year-over-year basis. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750–1.750 EPS. Equities analysts expect that Allegiant Travel will post 7.7 earnings per share for the current year.

Hedge Funds Weigh In On Allegiant Travel

Large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted its stake in Allegiant Travel by 28.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 205 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Allegiant Travel by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 17,275 shares of the transportation company’s stock valued at $949,000 after buying an additional 338 shares during the last quarter. Picton Mahoney Asset Management boosted its position in shares of Allegiant Travel by 6.6% during the first quarter. Picton Mahoney Asset Management now owns 5,550 shares of the transportation company’s stock valued at $286,000 after buying an additional 344 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Allegiant Travel by 43.7% during the second quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock worth $67,000 after buying an additional 373 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Allegiant Travel by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,202 shares of the transportation company’s stock valued at $475,000 after buying an additional 394 shares during 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.