Allegiant Travel’s (ALGT) Sell (D) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their sell (d) rating on shares of Allegiant Travel (NASDAQ:ALGT) in a report released on Friday,Weiss Ratings reports.

A number of other equities research analysts have also recently commented on ALGT. Barclays increased their target price on shares of Allegiant Travel from $52.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Zacks Research raised shares of Allegiant Travel from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Bank of America increased their price objective on shares of Allegiant Travel from $50.00 to $55.00 and gave the company an “underperform” rating in a report on Wednesday, October 1st. UBS Group boosted their target price on Allegiant Travel from $52.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, September 26th. Finally, Morgan Stanley dropped their price target on Allegiant Travel from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $70.56.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $66.51 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.07. The stock’s 50 day simple moving average is $62.30 and its 200-day simple moving average is $55.88. The company has a market cap of $1.22 billion, a PE ratio of -4.17, a price-to-earnings-growth ratio of 0.52 and a beta of 1.71. Allegiant Travel has a 1-year low of $39.80 and a 1-year high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Thursday, May 12th. The transportation company reported $1.18 EPS for the quarter. The firm had revenue of $496.88 million during the quarter. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%. As a group, equities research analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

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