Allegiant Travel (NASDAQ:ALGT) Given New $50.00 Price Target at Susquehanna

Allegiant Travel (NASDAQ:ALGT - Get Free Report) had its price target reduced by stock analysts at Susquehanna from $95.00 to $50.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the transportation company's stock. Susquehanna's price target would suggest a potential upside of 7.50% from the stock's previous close.

ALGT has been the subject of a number of other research reports. TD Cowen raised their price objective on Allegiant Travel from $50.00 to $70.00 and gave the stock a "hold" rating in a research report on Tuesday, December 17th. Bank of America reduced their target price on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Barclays increased their price objective on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Raymond James upgraded shares of Allegiant Travel from an "outperform" rating to a "strong-buy" rating and decreased their target price for the company from $125.00 to $90.00 in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Allegiant Travel currently has a consensus rating of "Hold" and an average price target of $67.00.

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Allegiant Travel Stock Performance

ALGT stock traded up $0.13 during midday trading on Monday, hitting $46.51. 314,206 shares of the company traded hands, compared to its average volume of 418,733. The business has a 50 day simple moving average of $64.25 and a 200-day simple moving average of $74.45. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57. The stock has a market capitalization of $852.90 million, a price-to-earnings ratio of -3.48 and a beta of 1.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Allegiant Travel by 5,248.2% during the 1st quarter. GAMMA Investing LLC now owns 36,207 shares of the transportation company's stock valued at $1,870,000 after purchasing an additional 35,530 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Allegiant Travel in the fourth quarter valued at $3,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Allegiant Travel in the fourth quarter valued at about $655,000. Voloridge Investment Management LLC acquired a new position in shares of Allegiant Travel during the fourth quarter worth approximately $16,713,000. Finally, Woodline Partners LP bought a new position in Allegiant Travel in the 4th quarter valued at $5,372,000. 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.