Allegiant Travel (NASDAQ:ALGT) Shares Down 6.7% - What's Next?

Allegiant Travel (NASDAQ:ALGT - Get Free Report) fell 6.7% on Monday . The company traded as low as $42.32 and last traded at $41.21. 33,356 shares were traded during mid-day trading, a decline of 92% from the average session volume of 420,210 shares. The stock had previously closed at $44.16.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALGT. Bank of America dropped their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. StockNews.com raised shares of Allegiant Travel from a "sell" rating to a "hold" rating in a research note on Wednesday, January 15th. Raymond James raised shares of Allegiant Travel from an "outperform" rating to a "strong-buy" rating and decreased their price objective for the company from $125.00 to $90.00 in a research report on Wednesday, April 2nd. UBS Group dropped their target price on Allegiant Travel from $61.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Morgan Stanley increased their price target 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 investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $67.00.

Allegiant Travel Stock Down 1.9 %

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 $845.16 million, a P/E ratio of -3.45 and a beta of 1.57. The stock has a fifty day moving average price of $56.78 and a two-hundred day moving average price of $73.65.

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 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%. Research analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Institutional Investors Weigh In On Allegiant Travel

Several institutional investors and hedge funds have recently bought and sold shares of the business. Donald Smith & CO. Inc. grew its holdings in shares of Allegiant Travel by 2.5% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,018,449 shares of the transportation company's stock valued at $95,856,000 after purchasing an additional 24,975 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Allegiant Travel by 16.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company's stock worth $87,404,000 after buying an additional 131,561 shares during the last quarter. Dimensional Fund Advisors LP increased its position in 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 period. Franklin Resources Inc. increased its position in 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 buying an additional 14,852 shares during the period. Finally, American Century Companies Inc. lifted its stake in Allegiant Travel by 14.8% in the fourth quarter. American Century Companies Inc. now owns 564,326 shares of the transportation company's stock valued at $53,114,000 after buying an additional 72,759 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.

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.