Allegiant Travel (NASDAQ:ALGT) Given Consensus Rating of “Hold” by Brokerages

Allegiant Travel (NASDAQ:ALGT) has been given a consensus rating of “Hold” by the eight research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $59.50.

A number of research firms have commented on ALGT. Evercore ISI reduced their price objective on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a research note on Monday, July 15th. Morgan Stanley reduced their price target 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, July 8th. 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. TD Cowen reduced their target price on Allegiant Travel from $39.00 to $33.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and lowered their price target for the company from $75.00 to $53.00 in a report on Monday, July 8th.

Allegiant Travel Trading Up 5.8 %

Allegiant Travel stock opened at $49.76 on Friday. The firm has a market cap of $910.61 million, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 6.10 and a beta of 1.64. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $85.91. The firm’s 50 day moving average price is $43.66 and its two-hundred day moving average price is $52.54. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.93. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The business had revenue of $666.28 million for the quarter, compared to analysts’ expectations of $657.74 million. During the same period in the previous year, the firm posted $4.35 EPS. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, research analysts predict that Allegiant Travel will post 0.97 EPS for the current fiscal year.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $337,050. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several large investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. lifted its stake in Allegiant Travel by 166.7% in the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after acquiring an additional 516,545 shares during the last quarter. Clearbridge Investments LLC bought a new stake in Allegiant Travel in the second quarter worth $8,959,000. Millennium Management LLC increased its position in Allegiant Travel by 779.8% during the second quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock worth $8,512,000 after buying an additional 150,197 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Allegiant Travel by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock valued at $65,972,000 after buying an additional 98,662 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Allegiant Travel in the second quarter worth about $4,263,000. 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.