Susquehanna Raises Allegiant Travel (NASDAQ:ALGT) Price Target to $55.00

Allegiant Travel (NASDAQ:ALGT) had its price objective upped by Susquehanna from $40.00 to $55.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

A number of other equities research analysts have also recently commented on ALGT. TD Cowen lifted their price objective on Allegiant Travel from $33.00 to $42.00 and gave the stock a hold rating in a research note on Thursday, October 3rd. Evercore ISI upped their target price on Allegiant Travel from $60.00 to $65.00 and gave the stock an in-line rating in a report on Thursday, October 3rd. Barclays decreased their price objective 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, July 10th. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a buy rating to a hold rating and decreased their target price for the stock from $75.00 to $53.00 in a report on Monday, July 8th. Finally, Morgan Stanley lowered their target price on Allegiant Travel from $95.00 to $87.00 and set an equal weight rating on the stock in a research note on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Allegiant Travel currently has a consensus rating of Hold and an average price target of $63.13.

Allegiant Travel Trading Up 1.8 %

Allegiant Travel stock opened at $58.37 on Wednesday. The stock has a market cap of $1.07 billion, a P/E ratio of -65.58, a P/E/G ratio of 3.11 and a beta of 1.65. The company’s fifty day simple moving average is $44.93 and its 200-day simple moving average is $51.48. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $85.91.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The business had revenue of $666.28 million during the quarter, compared to analyst estimates of $657.74 million. During the same quarter in the prior year, the business earned $4.35 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, sell-side analysts forecast that Allegiant Travel will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the transaction, the director now directly owns 7,490 shares of the company’s stock, valued at $337,050. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 1,699 shares of company stock worth $77,350. Insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC bought a new position in Allegiant Travel in the 2nd quarter worth about $34,000. CWM LLC boosted its position in Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after buying an additional 930 shares during the period. Headlands Technologies LLC grew its stake in shares of Allegiant Travel by 170.6% in the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after purchasing an additional 1,590 shares during the last quarter. SG Americas Securities LLC bought a new stake in Allegiant Travel in the first quarter valued at $141,000. Finally, ProShare Advisors LLC boosted its position in Allegiant Travel by 6.9% during the 1st quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock valued at $237,000 after acquiring an additional 203 shares in the last quarter. 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.