Allegiant Travel (NASDAQ:ALGT) Receives Average Rating of "Hold" from Brokerages

Shares of Allegiant Travel (NASDAQ:ALGT - Get Free Report) have been assigned an average rating of "Hold" from the eleven research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $67.00.

A number of research analysts have weighed in on the stock. TD Cowen upped their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a "hold" rating in a research report on Tuesday, December 17th. Morgan Stanley upped their price target on Allegiant Travel from $90.00 to $95.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Bank of America dropped their price objective on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. StockNews.com raised Allegiant Travel from a "sell" rating to a "hold" rating in a research note on Wednesday, January 15th. Finally, The Goldman Sachs Group increased their target price on Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in shares of Allegiant Travel by 1,614.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company's stock valued at $849,000 after buying an additional 8,491 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Allegiant Travel by 41.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company's stock valued at $14,176,000 after acquiring an additional 75,486 shares during the last quarter. State Street Corp lifted its stake in Allegiant Travel by 1.7% in 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. US Bancorp DE boosted its holdings in shares of Allegiant Travel by 575.4% during the 4th quarter. US Bancorp DE now owns 5,025 shares of the transportation company's stock worth $473,000 after purchasing an additional 4,281 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Allegiant Travel in the fourth quarter valued at approximately $383,000. Hedge funds and other institutional investors own 85.81% of the company's stock.

Allegiant Travel Stock Performance

Allegiant Travel stock traded up $0.13 during midday trading on Tuesday, hitting $46.51. 314,206 shares of the company were exchanged, compared to its average volume of 418,733. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57. The firm has a market capitalization of $852.90 million, a PE ratio of -3.48 and a beta of 1.57. The business has a fifty day simple moving average of $64.25 and a two-hundred day simple moving average of $74.45. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its 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 negative net margin of 9.56% and a positive return on equity of 3.33%. On average, sell-side analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current year.

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.