Allegiant Travel Company (NASDAQ:ALGT) Receives Average Rating of “Hold” from Brokerages

Allegiant Travel Company (NASDAQ:ALGT) has been given a consensus rating of “Hold” by the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $71.4444.

Several equities analysts have recently issued reports on ALGT shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Allegiant Travel in a report on Wednesday, October 8th. Bank of America lifted their price objective on Allegiant Travel from $50.00 to $55.00 and gave the company an “underperform” rating in a research note on Wednesday, October 1st. Evercore ISI increased their target price on Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Zacks Research upgraded Allegiant Travel from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Finally, Morgan Stanley upped their price target on shares of Allegiant Travel from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th.

Institutional Trading of Allegiant Travel

Hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Allegiant Travel by 4.9% in the third quarter. Harbor Capital Advisors Inc. now owns 3,759 shares of the transportation company’s stock worth $228,000 after buying an additional 176 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in Allegiant Travel by 28.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock worth $51,000 after acquiring an additional 205 shares during the period. SummerHaven Investment Management LLC raised its position in Allegiant Travel by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 17,275 shares of the transportation company’s stock worth $949,000 after acquiring an additional 338 shares during the period. Picton Mahoney Asset Management boosted its stake in shares of Allegiant Travel by 6.6% during the 1st quarter. Picton Mahoney Asset Management now owns 5,550 shares of the transportation company’s stock worth $286,000 after acquiring an additional 344 shares during the last quarter. Finally, Inspire Investing LLC grew its position in shares of Allegiant Travel by 5.0% during the 3rd quarter. Inspire Investing LLC now owns 7,451 shares of the transportation company’s stock valued at $453,000 after acquiring an additional 357 shares during the period. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Stock Performance

NASDAQ:ALGT opened at $63.70 on Wednesday. The firm has a market cap of $1.17 billion, a PE ratio of -4.00, a price-to-earnings-growth ratio of 0.49 and a beta of 1.77. Allegiant Travel has a fifty-two week low of $39.80 and a fifty-two 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 business has a 50 day moving average price of $63.68 and a 200-day moving average price of $58.28.

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

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.