Allegiant Travel (NASDAQ:ALGT - Free Report) had its price objective cut by UBS Group from $93.00 to $61.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the transportation company's stock.
Several other analysts have also issued reports on the stock. StockNews.com upgraded shares of Allegiant Travel from a "sell" rating to a "hold" rating in a report on Wednesday, January 15th. Bank of America boosted their price target on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an "underperform" rating in a research note on Friday, January 17th. TD Cowen increased their price objective 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. Barclays lifted their target price on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Finally, Susquehanna upped their price target on Allegiant Travel from $60.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Allegiant Travel currently has an average rating of "Hold" and an average target price of $84.60.
View Our Latest Analysis on ALGT
Allegiant Travel Trading Up 2.3 %
Allegiant Travel stock traded up $1.27 during trading on Thursday, reaching $56.23. 395,120 shares of the company were exchanged, compared to its average volume of 399,307. The stock's 50 day simple moving average is $81.12 and its two-hundred day simple moving average is $74.15. The company has a market capitalization of $1.03 billion, a P/E ratio of -4.21 and a beta of 1.64. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57.
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 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%. On average, equities research analysts expect that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Allegiant Travel
Several institutional investors have recently modified their holdings of the company. Segall Bryant & Hamill LLC raised its stake in Allegiant Travel by 5.1% in the third quarter. Segall Bryant & Hamill LLC now owns 103,508 shares of the transportation company's stock valued at $5,699,000 after buying an additional 5,052 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Allegiant Travel in the 3rd quarter valued at about $450,000. Landscape Capital Management L.L.C. purchased a new position in shares of Allegiant Travel in the 3rd quarter valued at about $6,193,000. Charles Schwab Investment Management Inc. raised its position in shares of Allegiant Travel by 41.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company's stock worth $14,176,000 after acquiring an additional 75,486 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in Allegiant Travel during the third quarter worth approximately $579,000. 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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