Allegiant Travel (NASDAQ:ALGT) Trading Down 9.1% - Should You Sell?

Shares of Allegiant Travel (NASDAQ:ALGT - Get Free Report) dropped 9.1% during trading on Monday . The company traded as low as $53.00 and last traded at $55.25. Approximately 369,692 shares were traded during trading, a decline of 4% from the average daily volume of 385,020 shares. The stock had previously closed at $60.76.

Analyst Ratings Changes

ALGT has been the subject of a number of recent analyst reports. Bank of America lifted their target price on Allegiant Travel from $54.00 to $95.00 and gave the company an "underperform" rating in a report on Friday, January 17th. StockNews.com upgraded Allegiant Travel from a "sell" rating to a "hold" rating in a research report on Wednesday, January 15th. Susquehanna increased their target price on Allegiant Travel from $60.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. The Goldman Sachs Group boosted their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley upped their target price 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 analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $80.10.

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Allegiant Travel Trading Up 1.2 %

The stock has a 50-day moving average price of $88.02 and a two-hundred day moving average price of $73.22. The stock has a market capitalization of $993.02 million, a PE ratio of -4.04 and a beta of 1.64. 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 issued its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping 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 analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current year.

Hedge Funds Weigh In On Allegiant Travel

Several hedge funds have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. grew its holdings in 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 acquiring an additional 24,975 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Allegiant Travel by 16.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company's stock worth $87,404,000 after acquiring an additional 131,561 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Allegiant Travel by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company's stock worth $70,421,000 after buying an additional 57,737 shares during the last quarter. State Street Corp lifted its position 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 acquiring an additional 10,050 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Allegiant Travel by 2.5% in the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company's stock worth $34,584,000 after purchasing an additional 14,852 shares during the last quarter. 85.81% of the stock is currently owned by 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.