Allegiant Travel (NASDAQ:ALGT) Downgraded by Deutsche Bank Aktiengesellschaft to “Hold”

Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel (NASDAQ:ALGT) from a buy rating to a hold rating in a report published on Monday morning, MarketBeat reports. They currently have $53.00 target price on the transportation company’s stock, down from their prior target price of $75.00.

ALGT has been the subject of several other research reports. TD Cowen decreased their price objective on Allegiant Travel from $65.00 to $60.00 and set a hold rating for the company in a report on Wednesday, May 15th. Susquehanna lowered their price target on Allegiant Travel from $76.00 to $65.00 and set a neutral rating for the company in a report on Tuesday, April 9th. UBS Group began coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They set a sell rating and a $58.00 price objective on the stock. Finally, Barclays lowered their target price on shares of Allegiant Travel from $60.00 to $55.00 and set an equal weight rating for the company in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $72.25.

Allegiant Travel Price Performance

ALGT opened at $49.09 on Monday. The firm has a market capitalization of $894.91 million, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.22 and a beta of 1.66. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.76 and a quick ratio of 0.74. The business’s 50-day moving average is $51.65 and its two-hundred day moving average is $65.41. Allegiant Travel has a 1 year low of $43.91 and a 1 year high of $130.93.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The firm had revenue of $656.70 million for the quarter, compared to the consensus estimate of $645.23 million. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.04 EPS. Research analysts anticipate that Allegiant Travel will post 3.62 earnings per share for the current fiscal year.

Allegiant Travel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Tuesday, May 14th. Allegiant Travel’s dividend payout ratio (DPR) is currently 75.95%.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 19,687 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.68, for a total value of $1,056,798.16. Following the sale, the chief marketing officer now directly owns 64,812 shares of the company’s stock, valued at $3,479,108.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CMO Scott Wayne Deangelo sold 19,687 shares of Allegiant Travel stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the completion of the transaction, the chief marketing officer now directly owns 64,812 shares in the company, valued at $3,479,108.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Paul Wilson III sold 4,600 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $54.00, for a total value of $248,400.00. Following the completion of the sale, the executive vice president now owns 75,698 shares in the company, valued at approximately $4,087,692. The disclosure for this sale can be found here. Insiders have sold 26,037 shares of company stock worth $1,395,948 over the last 90 days. 17.50% of the stock is currently owned by company insiders.

Institutional Trading of Allegiant Travel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Invesco Ltd. boosted its stake in shares of Allegiant Travel by 17.3% during the 3rd quarter. Invesco Ltd. now owns 80,583 shares of the transportation company’s stock worth $6,194,000 after acquiring an additional 11,858 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Allegiant Travel by 361.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,316 shares of the transportation company’s stock worth $332,000 after purchasing an additional 3,380 shares during the period. Kennedy Capital Management LLC purchased a new position in Allegiant Travel during the third quarter worth approximately $1,177,000. Graham Capital Management L.P. acquired a new stake in Allegiant Travel in the third quarter valued at approximately $671,000. Finally, American Century Companies Inc. increased its position in shares of Allegiant Travel by 19.4% in the third quarter. American Century Companies Inc. now owns 263,096 shares of the transportation company’s stock valued at $20,222,000 after buying an additional 42,688 shares in 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.