Allegiant Travel (NASDAQ:ALGT) Receives Average Recommendation of “Hold” from Analysts

Allegiant Travel (NASDAQ:ALGT) has earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $72.25.

A number of equities analysts recently issued reports on the stock. Barclays decreased their target price on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday. Morgan Stanley decreased their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and decreased their target price for the company from $75.00 to $53.00 in a research report on Monday. UBS Group assumed coverage on shares of Allegiant Travel in a research report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 target price for the company. Finally, TD Cowen decreased their target price on shares of Allegiant Travel from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Wednesday, May 15th.

Allegiant Travel Stock Up 3.8 %

ALGT stock opened at $49.09 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35. Allegiant Travel has a fifty-two week low of $43.91 and a fifty-two week high of $130.93. The firm’s 50-day simple moving average is $51.65 and its 200 day simple moving average is $65.41. The stock has a market cap of $895.01 million, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.22 and a beta of 1.66.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The business had revenue of $656.70 million for the quarter, compared to analysts’ expectations of $645.23 million. During the same quarter last year, the company earned $3.04 EPS. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that Allegiant Travel will post 3.62 EPS for the current year.

Allegiant Travel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 4.89%. Allegiant Travel’s dividend payout ratio (DPR) is 75.95%.

Insider Activity

In other news, EVP Robert Paul Wilson III sold 4,600 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $54.00, for a total transaction of $248,400.00. Following the completion of the transaction, the executive vice president now owns 75,698 shares in the company, valued at approximately $4,087,692. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Allegiant Travel news, COO Keny Frank Wilper sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.00, for a total value of $51,000.00. Following the completion of the transaction, the chief operating officer now directly owns 9,422 shares in the company, valued at $480,522. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert Paul Wilson III sold 4,600 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $54.00, for a total transaction of $248,400.00. Following the completion of the transaction, the executive vice president now owns 75,698 shares of the company’s stock, valued at $4,087,692. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,037 shares of company stock worth $1,395,948. Corporate insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Allegiant Travel in the fourth quarter worth about $28,000. CWM LLC lifted its position in shares of Allegiant Travel by 275.1% in the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after purchasing an additional 930 shares in the last quarter. Tradewinds Capital Management LLC purchased a new stake in shares of Allegiant Travel in the fourth quarter worth approximately $83,000. SG Americas Securities LLC purchased a new stake in shares of Allegiant Travel in the first quarter worth approximately $141,000. Finally, Commerce Bank purchased a new stake in shares of Allegiant Travel in the fourth quarter worth approximately $201,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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.