Allegiant Travel (NASDAQ:ALGT) Stock Price Down 4.7% Following Analyst Downgrade

Allegiant Travel (NASDAQ:ALGT - Get Free Report) traded down 4.7% during mid-day trading on Thursday after UBS Group lowered their price target on the stock from $93.00 to $61.00. UBS Group currently has a neutral rating on the stock. Allegiant Travel traded as low as $53.44 and last traded at $53.35. 59,002 shares changed hands during trading, a decline of 85% from the average session volume of 395,518 shares. The stock had previously closed at $55.97.

ALGT has been the subject of a number of other research reports. Susquehanna lifted their price objective on Allegiant Travel from $60.00 to $105.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Barclays lifted their price target on Allegiant Travel from $85.00 to $100.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Raymond James increased their price objective on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, December 30th. StockNews.com upgraded shares of Allegiant Travel from a "sell" rating to a "hold" rating in a report on Wednesday, January 15th. Finally, TD Cowen upped their price target 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel has an average rating of "Hold" and a consensus target price of $84.60.

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Hedge Funds Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently made changes to their positions in ALGT. Public Employees Retirement System of Ohio purchased a new position in Allegiant Travel in the fourth quarter valued at about $3,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Allegiant Travel in the fourth quarter valued at about $655,000. Voloridge Investment Management LLC purchased a new stake in shares of Allegiant Travel during the 4th quarter valued at about $16,713,000. Woodline Partners LP purchased a new stake in shares of Allegiant Travel during the 4th quarter valued at about $5,372,000. Finally, ProShare Advisors LLC acquired a new position in Allegiant Travel during the 4th quarter worth approximately $438,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Stock Performance

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 stock has a fifty day simple moving average of $81.12 and a two-hundred day simple moving average of $74.15. The stock has a market cap of $1.03 billion, a PE ratio of -4.21 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced 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%. Equities analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal 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.