Allegiant Travel (NASDAQ:ALGT - Free Report) had its price target decreased by Bank of America from $95.00 to $50.00 in a research report released on Thursday,Benzinga reports. Bank of America currently has an underperform rating on the transportation company's stock.
Other analysts have also issued research reports about the company. Raymond James raised Allegiant Travel from an "outperform" rating to a "strong-buy" rating and reduced their target price for the stock from $125.00 to $90.00 in a report on Wednesday, April 2nd. The Goldman Sachs Group boosted their price target on Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Barclays raised their price objective on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. UBS Group cut their target price on Allegiant Travel from $93.00 to $61.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Finally, Morgan Stanley boosted 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $71.00.
View Our Latest Stock Analysis on Allegiant Travel
Allegiant Travel Price Performance
ALGT stock traded down $2.20 during mid-day trading on Thursday, hitting $43.72. 218,263 shares of the stock were exchanged, compared to its average volume of 413,126. Allegiant Travel has a 12 month low of $36.09 and a 12 month high of $107.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The business has a fifty day moving average price of $70.88 and a 200 day moving average price of $74.86. The stock has a market capitalization of $801.70 million, a price-to-earnings ratio of -3.25 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 (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that Allegiant Travel will post 7.7 EPS for the current year.
Hedge Funds Weigh In On Allegiant Travel
Institutional investors and hedge funds have recently made changes to their positions in the business. Crews Bank & Trust bought a new position in shares of Allegiant Travel in the 4th quarter valued at about $25,000. Jones Financial Companies Lllp lifted its stake in shares of Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock valued at $43,000 after purchasing an additional 223 shares during the last quarter. Sterling Capital Management LLC boosted its holdings 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 worth $47,000 after purchasing an additional 442 shares during the period. Signaturefd LLC increased its position 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 purchasing an additional 138 shares during the last quarter. Finally, GAMMA Investing LLC increased its position 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 purchasing an additional 236 shares during the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.
About Allegiant Travel
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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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