Shares of Allegiant Travel (NASDAQ:ALGT - Get Free Report) were up 7.6% during trading on Wednesday . The stock traded as high as $53.65 and last traded at $54.73. Approximately 26,678 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 408,035 shares. The stock had previously closed at $50.85.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the company. StockNews.com upgraded Allegiant Travel from a "sell" rating to a "hold" rating in a research report on Wednesday, January 15th. Raymond James upgraded shares of Allegiant Travel from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the company from $125.00 to $90.00 in a research note on Wednesday, April 2nd. 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. Barclays lifted their price objective on Allegiant Travel from $85.00 to $100.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Finally, Susquehanna lowered their target price on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Allegiant Travel has an average rating of "Hold" and a consensus price target of $72.60.
Get Our Latest Analysis on ALGT
Allegiant Travel Stock Performance
The company's fifty day moving average price is $72.05 and its two-hundred day moving average price is $74.84. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The firm has a market capitalization of $826.59 million, a PE ratio of -3.38 and a beta of 1.57.
Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates 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%. As a group, equities analysts expect that Allegiant Travel will post 7.7 earnings per share for the current year.
Hedge Funds Weigh In On Allegiant Travel
Large investors have recently modified their holdings of the company. Crews Bank & Trust acquired a new stake in shares of Allegiant Travel during the fourth quarter valued at about $25,000. Jones Financial Companies Lllp increased its holdings in Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock worth $43,000 after purchasing an additional 223 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Allegiant Travel by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock valued at $47,000 after purchasing an additional 442 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after buying an additional 138 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock valued at $64,000 after buying an additional 236 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.
Allegiant Travel Company Profile
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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.
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