Allegiant Travel (NASDAQ:ALGT) Stock Price Down 8.7% – Time to Sell?

Allegiant Travel (NASDAQ:ALGT)’s share price was down 8.7% during trading on Tuesday . The company traded as low as $62.48 and last traded at $63.42. Approximately 125,912 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 376,942 shares. The stock had previously closed at $69.48.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group started coverage on Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price on the stock. Susquehanna lifted their price target on Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley upped their price objective on Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $80.10.

Allegiant Travel Price Performance

The company has a 50 day moving average price of $92.51 and a 200-day moving average price of $72.52. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -4.73 and a beta of 1.63.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. As a group, equities research analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Institutional Trading of Allegiant Travel

Several large investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. boosted its position in shares of Allegiant Travel by 2.5% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,018,449 shares of the transportation company’s stock worth $95,856,000 after purchasing an additional 24,975 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Allegiant Travel by 16.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company’s stock valued at $87,404,000 after acquiring an additional 131,561 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Allegiant Travel by 8.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company’s stock valued at $70,421,000 after purchasing an additional 57,737 shares during the last quarter. State Street Corp increased its holdings in Allegiant Travel by 1.7% during the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after purchasing an additional 10,050 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Allegiant Travel by 2.5% during the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after buying an additional 14,852 shares in the last quarter. Institutional investors and hedge funds 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.