Brokerages Set Allegiant Travel (NASDAQ:ALGT) PT at $89.75

Allegiant Travel (NASDAQ:ALGT) has been assigned an average recommendation of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $89.75.

Several equities research analysts recently weighed in on ALGT shares. Raymond James reduced their price target on shares of Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. UBS Group assumed coverage on shares of Allegiant Travel in a research report on Wednesday, March 20th. They set a “sell” rating and a $58.00 target price on the stock. TD Cowen lifted their price target on Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 6th. Susquehanna decreased their price objective on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Finally, Barclays lowered their price objective on Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, April 5th.

Allegiant Travel Price Performance

NASDAQ ALGT opened at $56.74 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37. Allegiant Travel has a 12 month low of $54.87 and a 12 month high of $130.93. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 0.98 and a beta of 1.58. The company’s 50 day moving average is $68.66 and its two-hundred day moving average is $72.37.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Monday, February 5th. The transportation company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.52. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The business had revenue of $611.00 million for the quarter, compared to analysts’ expectations of $596.42 million. During the same period last year, the firm earned $3.17 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. As a group, research analysts anticipate that Allegiant Travel will post 4.83 earnings per share for the current year.

Allegiant Travel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $2.40 annualized dividend and a dividend yield of 4.23%. Allegiant Travel’s dividend payout ratio (DPR) is presently 37.97%.

Insider Buying and Selling at Allegiant Travel

In other news, Director Gary Ellmer sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $79.10, for a total transaction of $158,200.00. Following the transaction, the director now directly owns 8,490 shares of the company’s stock, valued at $671,559. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 17.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Allegiant Travel

Large investors have recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Allegiant Travel in the 4th quarter worth approximately $7,187,000. Qube Research & Technologies Ltd acquired a new stake in shares of Allegiant Travel during the third quarter worth $5,364,000. Kennedy Capital Management LLC purchased a new stake in shares of Allegiant Travel during the third quarter valued at $1,177,000. Illinois Municipal Retirement Fund acquired a new position in shares of Allegiant Travel in the 3rd quarter valued at $715,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Allegiant Travel in the 3rd quarter valued at $1,404,000. Hedge funds and other institutional investors 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.