Allegiant Travel (NASDAQ:ALGT) Given Average Rating of "Hold" by Brokerages

Allegiant Travel (NASDAQ:ALGT - Get Free Report) has received an average rating of "Hold" from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $63.13.

Several analysts have weighed in on the company. Morgan Stanley lowered their target price on Allegiant Travel from $95.00 to $87.00 and set an "equal weight" rating on the stock in a report on Monday, July 8th. TD Cowen raised their target price on shares of Allegiant Travel from $33.00 to $42.00 and gave the company a "hold" rating in a report on Thursday, October 3rd. Susquehanna upped their price target on shares of Allegiant Travel from $40.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Finally, Barclays reduced their target price on Allegiant Travel from $55.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 10th.

Insider Buying and Selling at Allegiant Travel

In other news, Director Gary Ellmer sold 1,000 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the director now owns 7,490 shares in the company, valued at $337,050. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 1,699 shares of company stock worth $77,350. Insiders own 17.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in Allegiant Travel during the second quarter worth approximately $34,000. CWM LLC increased its holdings in shares of Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company's stock worth $64,000 after buying an additional 930 shares during the last quarter. NBC Securities Inc. raised its position in shares of Allegiant Travel by 2,827.9% in the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company's stock worth $69,000 after buying an additional 1,216 shares during the period. Headlands Technologies LLC raised its position in shares of Allegiant Travel by 170.6% in the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company's stock worth $127,000 after buying an additional 1,590 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Allegiant Travel in the first quarter valued at $141,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Price Performance

Shares of NASDAQ ALGT traded up $1.68 during midday trading on Tuesday, hitting $59.30. The company had a trading volume of 347,930 shares, compared to its average volume of 360,647. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 3.11 and a beta of 1.65. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $85.91. The business has a 50-day simple moving average of $45.58 and a two-hundred day simple moving average of $50.91. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.93. The company had revenue of $666.28 million during the quarter, compared to the consensus estimate of $657.74 million. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The company's revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the firm earned $4.35 EPS. Equities research analysts anticipate that Allegiant Travel will post 1.47 earnings per share for the current 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.