Allegiant Travel (NASDAQ:ALGT) Trading 5% Higher

Allegiant Travel (NASDAQ:ALGT) shares traded up 5% during trading on Tuesday . The company traded as high as $43.13 and last traded at $43.13. 10,735 shares were traded during mid-day trading, a decline of 97% from the average session volume of 349,999 shares. The stock had previously closed at $41.07.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Susquehanna reduced their price objective on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Barclays lowered their price objective on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI dropped their price objective on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a research note on Monday, July 15th. TD Cowen lowered their target price on shares of Allegiant Travel from $39.00 to $33.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and dropped their price target for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Allegiant Travel presently has a consensus rating of “Hold” and a consensus target price of $59.50.

Allegiant Travel Stock Up 3.6 %

The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. The business’s 50 day moving average is $44.26 and its 200-day moving average is $53.79. The firm has a market capitalization of $775.41 million, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 5.50 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.93. The firm had revenue of $666.28 million during the quarter, compared to the consensus estimate of $657.74 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.35 EPS. Equities analysts anticipate that Allegiant Travel will post 0.96 EPS for the current fiscal year.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the director now directly owns 7,490 shares in the company, valued at $337,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new position in shares of Allegiant Travel during the 2nd quarter worth approximately $34,000. CWM LLC grew its holdings in shares of Allegiant Travel by 275.1% during 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 during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Allegiant Travel in the first quarter valued at $141,000. Commerce Bank bought a new position in shares of Allegiant Travel in the fourth quarter valued at about $201,000. Finally, Headlands Technologies LLC grew its holdings in Allegiant Travel by 170.6% during the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after acquiring an additional 1,590 shares during the last quarter. Institutional investors own 85.81% of the company’s stock.

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.